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Givaudan To Acquire Vietnamese Naturals Company Golden Frog

Givaudan 2

Givaudan 1

21/5/19 – Givaudan has reached an agreement to acquire the Vietnamese flavors company Golden Frog for an undisclosed amount as a part of its expansion effort. The Swiss company is looking to strengthen its presence in the high growth Asia Pacific region.

While terms of the deal have not been disclosed, Golden Frog’s business would have represented approximately CHF10M of incremental sales to Givaudan’s results in 2018 on a proforma basis.

Golden Frog is a naturals manufacturers based in the Ho Chi Minh City of Vietnam. The company manufactures a wide range of natural flavors, extracts and essential oils for the food and beverage industry in the ASEAN markets.

The Vietnamese company offers a wide range of natural ingredients including herbs, spices, fruit and vegetable extracts, and essential oils deriving from the unique and vast biodiversity in the country.

According to a press statement from Givaudan, Louie D’Amico, President of Givaudan’s Flavour Division said strengthening and expanding naturals offering has always and continues to be the company’s key priority.

D’Amico further added, “The addition of Golden Frog’s product portfolio, talent and know-how will further enable Givaudan to provide global, regional and local customers with complete and competitive natural solutions.”

Monila Kothari, Regional Commercial Head, APAC said: “With a growing population of over 97 million people, Vietnam is a market with tremendous growth potential for Givaudan in the Asia Pacific region. The combination of Golden Frog’s naturals portfolio with our long heritage in naturals and sustainable sourcing will expand our leadership position in the country and bring numerous benefits to our customers, employees, and communities locally and across the ASEAN region.”

Givaudan plans to fund the transaction from existing resources and is expected to close in the second half of 2019.

Bukalapak brings ecommerce services overseas with new platform

20/5/2019 – Indonesia’s leading online marketplace Bukalapak has become the country’s first ecommerce company to expand overseas by launching its new platform called BukaGlobal.

The new feature will allow international customers to purchase products on its platform, and is currently available in five locations outside of Indonesia, including Singapore, Malaysia, Hong Kong, Taiwan, and Brunei Darussalam.

This widens the company’s user base beyond Indonesia and allows international users to buy directly from more than 4 million Indonesian sellers on the platform.

Though at the moment, only qualified sellers in Jakarta and Tangerang are able to offer BukaGlobal as part of their service, with more sellers to participate soon.

According to Bukalapak co-founder and president Farjrin Rasyid, BukaGlobal was designed to address logistics challenges in the region, such as the high cost of postal and courier delivery.

“We want to break down barriers that hinder young and small entrepreneurs from competing on a global playing field, primarily on access, infrastructure, and connectivity. With BukaGlobal, Indonesian products are readily accessible by consumers anywhere in the world through a fast and reliable platform,” he said.

The geographical expansion by Bukalapak also follows a series of vertical expansion moves the company has been undertaking of late.

In the past few years, Bukalapak has launched various features including BukaNonton (video content), BukaPolling (Live TV, quiz and polls), and even BukaBike (bike-sharing), as well as fintech features like BukaDana (e-wallet), BukaReksa (mutual funds), and BukaCicilan (credit-payment), and Modal Mitra (lending).

All features in BukaGlobal can be accessed via Bukalapak’s web and app starting from May 20, 2019. Consumers can select their location and order products starting from 0.5 kg with delivery approximately 6 to 11 days depending on the destination.

VAT details are displayed during the checkout and payment process. Transactions will be made in Indonesian rupiahs using credit cards, debit cards, or in cash payments via a remittance agent at the buyer’s location.