ERAA – Retains and strengthens control over F&B business

ERAA – Retains and strengthens control over F&B business Erajaya Swasembada (ERAA) through its subsidiary, Era Boga Nusantara (EBN) has retained its control over Era Boga Patiserindo (EBP), the company behind the Paris Baguette brand in Indonesia. This was done through a IDR10.5 bn capital injection to subscribe 10,500 new common shares in EBP, raising their total paid-up capital from IDR116 bn to IDR131bn. Securing a 70% stake of EBP via EBN while Paris Baguette Singapore holds the remaining 30%. While EBN focuses on food and beverage outlets and retail operations such as minimarkets and supermarkets, EBP operates bakery and restaurant chains under the Paris Baguette brand. Erajaya Food & Nourishment CEO Jeremy Sim Chee Ping said the brand holds a strong potential, with potential plans to expand to locations beyond Java. As of now, the brand operates in Surabaya and Sumatra, and has plans to expand into Bali (Source : Investor Daily)