JAKARTA - PT Fore Kopi Indonesia Tbk (FORE), through its subsidiary PT Cipta Favorit Indonesia (CFI), announced plans to expand into the food and beverage (FnB) industry after its IPO by launching a donut business.

According to FORE Director Mohammad Fahmi Rachmattulah, CFI is one of FORE's new business models that will be launched in the third quarter of 2025, focusing on donut products. ‘This is our new business that will be launched in the near future,’ said Fahmi at FORE's press conference, Friday (21/3).

At the same time, FORE President Director Vico Lomar said that CFI's business segmentation will be in line with FORE's strategy. According to him, CFI will start operations gradually. ‘We will start on a small scale to observe the market potential before expanding bigger,’ said Vico.

He emphasised that this step was taken so that CFI would have a strong business foundation like FORE.

For information, FORE plans to allocate 18% of the total proceeds from its initial public offering (IPO) of IDR 379.76 billion for CFI's capital. These funds will be used to open 30 new outlets, consisting of 10% flagship outlets, 65% medium outlets, and 25% satellite outlets.

As previously reported by IDNFinancials.com, FORE is offering up to 1.88 billion shares, equivalent to 21.08% of its post-IPO capital, with a nominal value of IDR70 per share. The offering price is set in the range of IDR160-IDR202 per share, with a total maximum offering value of IDR379.76 billion.

FORE also allocates 76% of the IPO proceeds for major expansion by opening 140 new outlets. The opening of outlets will be carried out in stages from 2025 to 2026, with 10% flagship outlets, 80% medium outlets, and 10% satellite outlets.

Vico Lomar added that FORE plans to open at least 72 outlets by 2025. This expansion will target cities in various categories, including tier 1, tier 2, and tier 3.

‘We are not yet present in Ambon and Aceh, so maybe this year we will expand there, as well as other cities that have not been reached,’ he said.(DK/LM)