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CBL Group buys Indonesian coconut processor for $25M to expand global plant-based product supply.
CBL Group, a Sri Lankan food manufacturer, has acquired PT Tri Jaya Tangguh Indonesia, a major Indonesian coconut processor, for over $25 million with support from the International Finance Corporation.
The deal, part of CBL’s global expansion, aims to boost production of value-added coconut products like coconut milk, leveraging Indonesia’s status as the world’s top coconut producer.
The Indonesian facility, employing over 800 people, will enhance CBL’s supply chain, exports to Europe and the U.S., and innovation capacity.
The move responds to rising global demand for plant-based ingredients, with the coconut products market projected to reach nearly $12 billion by 2030.
CBL also emphasized commitments to local employment and sustainable growth in both countries.
CBL Group compra un procesador de coco indonesio por $ 25M para expandir el suministro global de productos basados en plantas.