JAKARTA. PT Cisarua Mountain Dairy Tbk (CMRY), also known as Cimory, recently obtained a strategic investment from General Atlantic, a global equity venture from the United States.

The amount of investment channelled by General Atlantic to Cimory is USD 130 million, or approximately IDR 2.02 trillion. It is equivalent to 5.64% of the shares in Cimory.

This investment is expected to accelerate Cimory's business growth. It includes product development and innovation, as well as distribution network expansion and digital marketing support.

Farell Sutantio, CEO of Cimory, claimed that the investment from General Atlantic will lead Cimory to the next stage of development. "General Atlantic has profound knowledge and experience, as well as capability, to assist the company's growth," he explained in the information disclosure today (10/1).

On the other side of the deal, Sandeep Naik, Managing Director and Head of India & Southeast Asia of General Atlantic, has acknowledged Cimory's product and innovations. "With dynamic economic growth, Cimory has opportunities to expand its product portfolio and the scope of its potential consumers," he added.

For the record, Cimory launched its business in the dairy and food sector in 1992. On December 6, 2021, Cimory was officially listed on Indonesia Stock Exchange (IDX) after successfully raising IDR 3.66 trillion in its initial public offering (IPO). (KR/ZH)