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Sari Roti is mbadive enough to reach the national bread market with the support of 10 factories on several islands in Indonesia.
"By declaring that the reported part (Nippon Indosari) had been proved legally and convincingly, it had violated Article 29 of Law No. 5 of 1999 in conjunction with Article 6 of the PP 57 of 2010, "said Ukay Karyadi, chairman of the Commercial Competition Supervisory Commission (KPPU), Monday / 11).
The value of the stock purchase transaction carried out by Nippon Indosari vis-à-vis Prima Top Boga was valued at 31.5 billion rupees, the equivalent of 32.05 million US dollars. # 39; s shares. This stake equals 50.99% of the shares of Prima Top Catering. Article 29 of Law No. 5 of 1999 on the Prohibition of Monopolistic Practices and Unfair Competition (PDF), mergers or mergers of companies, or the takeovers of companies in the country. actions whose amount in badets and / or value of sales exceed a certain amount, must be notified to the Commission no later than 30 days since the acquisition.
In its explanation, KPPU stated that the acquisition made by Nippon Indosari against Prima Boga was legally valid on February 9, 2018. The deadline to declare the acquisition was March 23, 2018. However, Nippon Indosari n & # 39; 39, reported the acquisition as March 29, 2018.
As such, the KPPU believes that it is four days late to declare the action of the company. "On 7 March 2018, the Commission, through the Merger Directorate, sent a letter to the party reported (Nippon Indosari) concerning its obligation to notify KPPU of its acquisition of PT Prima Top Boga at the latest. March 23, 2018, "writes KPPU's official statement.
Indrayana, director of Nippon Indosari Corporindo, admitted that he was conducting an internal discussion to verify the KPPU's decision. This was done to determine the later stages of the company regarding the fine decision. "We have not received KPPU's initial decision letter, of course we have an internal discussion with our legal division to verify and determine next steps," Indrayana said. Tirto.
The concentration of KPPU on the acquisition issue is not without reason or solely in terms of administrative compliance. The acquisition has the potential to affect the market conditions of the company concerned, including the risk of a dominant position or an uncontrolled market share. The bread market is still strictly competitive at the national and regional levels.
Soft bread, tough competition
Research by badysts at Mirae Asset Sekuritas indicates that diversification of consumer tastes could be a factor in increasing demand for bread in Indonesia in the future. This is because relatively stable macroeconomic conditions allow middle- and high-income Indonesian consumers to be able to diversify their food products, including Western pseudonyms. western style like bread and pasta. Per capita consumption of bread in Indonesia is also on the rise.
"One of the breadmakers who can benefit is Nippon Indosari Corpindo, a producer of Sari Roti who has a code for the ROTI show," wrote Mimim Halimin in a study published on June 6, 2018 (PDF).
The growing demand for goods is directly proportional to the competitive packaging packaging market in Indonesia. Mimim Halimin said that the bread sector in Indonesia is dominated by local or small players (micro, small and medium enterprises / MSMEs as well as small and medium enterprises / SMEs).
"We have recently noticed that the competition is getting tougher with the addition of relatively new players," wrote Mimim.
The packaging products of the new company seemed to fill the shelves of various outlets troubleshooter spread in the surrounding environment. In three outlets troubleshooter different Tirto visiting the Kemang Timur area, Sari Roti is competing with at least five other brands.
In Indomaret stores, Sari Roti competes with the bread roll of the Mr. Pain brand manufactured by PT Indoroti Prima Cemerlang, Prime Bread produced by PT Gardenia Makmur Selaras and Sharon brand bread produced by PT Multi Star Rukun Abadi. The selling price is quite competitive.
For example, for bread sandwich variants. Sari Roti sells sandwiches of different flavors at 4,500 rupees for a net weight of 46 grams. Monsieur Le Pain sells products of the same type and at the same price with a weight of 50 grams.
In the fresh bread segment, in addition to competing with Mr. Pain's production products, Sari Roti is also competing with a new player, PT Yamazaki Indonesia, My Roti Yamazaki. This new brand is available in Alfamart outlets. My Roti Yamazaki sells products of 380 grams with a selling price of 12,000 rupees. Sari Roti produces peeled bread products with a net weight of 200 grams at a price of 14,500 rupees.
Another option offered by Sari Roti is peeled bread double soft which has a net weight of up to 360 grams and is sold for 18,000 rupees. For fresh bread with skin, My Yamazaki Bread sells for 11,500 Rp. With a weight of 380 grams. Whereas Mr. Bread sells the same variant for 13 000 Rp. With a weight of 338 grams.
While the Sharon brand bread produced by PT Multi Star, Rukun Abadi is more focused on the attractive variant of Japanese packaging bread. This Sharon bread sells different kinds of bread steam cooked softer and interesting content variants. The selling price varies from 5,500 to 9,500 rupees.
It is interesting to note that the Sharon bread brand having the same taste and the same variant has a different selling price between Indomaret and Alfamart and Circle K. The difference in selling price up to 500 rupees is higher in Alfamart and Circle K compared to Indomaret. Sell packaging in every troubleshooter this for Sharon brand bread is also different. The Sari Roti brand also does not appear in Circle K.
Sribugo Suratmo, deputy general president of the Indonesian Association of Food and Beverage Entrepreneurs (GAPMMI), said the Sari Roti brand held the largest share of the bread market at the national level. Indeed, the Sari Roti brand is widespread in Indonesia. The Sari Roti factory covers 10 sites spread between Medan, Palembang, Makbadar, Cikande, Purwakarta, Cikarang, Pasuruan and Semarang.
GAPMMI notes that Sari Roti's national market share is around 40%. "The important market share is not due to the high production volume produced by each plant, but to the almost equal distribution of product sales throughout Indonesia," he said. -he declares. Tirto.
Sribugo explained that local bread brands in various parts of Indonesia hold the second largest share of the bread products market. In Jakarta, for example, there is the bread brand Lauw as well as Tan Ek Tjoan who controls the market share of local bread. In addition to these brands, there are also other brands: Majestik, Switzerland, Switzerland, Holland Bakery, Buana and BreadTalk.
"In each region, there is a local brand of bread that controls the market of the region and becomes the master of the second market after Sari Roti, so controlling the second largest market share can not be called because each region is different. "At the national level, there is no leader of the second biggest bread market in Indonesia," said Sribugo.
The acquisition of PT Prima Top Boga shares by Sari Roti, according to Sribugo, is also part of the action of companies wishing to have more plant distribution in Indonesia and to enter many types of bread, stimulating sales and the markets.
PT Prima Top Boga is a bread producer producing various types of patisseries or manufacture of frozen bread, pastries, pizzas and pasta from France. The mark that is transported is BonChef. BonChef's market targets are five-star hotels, cafés, supermarkets and hypermarkets.
"The goal is that production is not only concentrated in Jakarta and Cikarang, but that it is more dispersed." It also comes in a bread variant that Sari Roti has not yet "said Sribugo.
The sales segment of Sari Roti has indeed been on an upward trend in recent years. In the quarter III-2018 (PDF), net sales of companies that listed on the stock exchange with the ROTI issuer code reached 1,988 billion rubles, an 8% increase over the previous year. the same period of the previous year.
This sale is supported by the launch of new products and the expansion of sales distribution. On the domestic front, Sari Roti has extended its distribution to Papua, Batam and the Kalimantan and Balikpapan areas. In addition, Sari Sari has also penetrated new neighborhoods in the cities of Lampung and Manado. Sari Roti's is also extended to the Philippines, although its number is limited.
The acquisition stage is also inseparable from Sari Roti's efforts to expand his business. KPPU's decision to buy Prima Top Boga by Sari Roti does not cancel the acquisition, but Sari Roti must be very cautious when it develops, it may be that in the future, other steps may stumble on the business arbitrators.
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