Food and agriculture platform of Indonesia-based FKS Group, FKS Food & Agri, is to receive an investment of US$100 million from U.S.-based private equity group Proterra Investment Partners.
FKS will use the investment to expand its food processing and logistics businesses in Indonesia and Southeast Asia, and Proterra will in turn receive a minority stake in FKS Food & Agri, according to Asian Capital Venture Journal.
FKS Food & Agri is the main pillar of FKS Group, according to the company’s website. The business covers the marketing, procurement, shipment, logistics, and distribution across Indonesia. It is the country’s leading supplier of food and feed ingredients, with activities including flour milling, corn starch production, sugar refining, and soybean processing.
With offices in the U.S., United Kingdom, India, Singapore, China and Australia, Proterra Investment Partners focuses on private equity investments in the natural resource sectors, such as agriculture and food.
In 2016, Proterra was launched to manage the private equity funds of Black River Asset Management, which had previously been a wholly owned and independently managed subsidiary of Cargill Inc. Cargill remains a limited partner to the funds.
