Consumer Staples Author：EqualOcean News Updated 1 hour ago (GMT+8)

Anjoy Foods Group（安井食品）has approved a joint venture to establish food production and sales operations in Indonesia, with the two partners committing combined cash contributions of at least USD 74.25 million. The board approved the proposal on September 9, according to a company announcement dated September 10.

Anjoy Foods

Under the proposed structure, wholly owned Hong Kong Anjoy Foods Limited and Mutual Strategy Limited would hold 50.5% and 49.5%, respectively, in a Hong Kong holding company. Based on the minimum commitment, Anjoy would contribute approximately USD 37.50 million and its partner USD 36.75 million, payable in five installments as construction progresses. The holding company would establish separate Indonesian production and trading subsidiaries.

The planned product range includes frozen surimi products, sausages and flour-and-rice products, alongside shelf-stable sausage and surimi snacks. Anjoy would provide research, manufacturing expertise and team-building support, while its partner would facilitate access to local supply chains and retail networks. The partners would also support the development of cold-chain infrastructure and operating procedures.

Anjoy would appoint up to two directors to the holding company’s board of up to three members, including its chairman. The project remains subject to overseas investment procedures, registration and relevant permits. The company expects no material near-term financial impact.

Listed in Shanghai and Hong Kong, Anjoy produces frozen foods and prepared dishes and already has overseas business interests, including a UK food subsidiary. The Indonesian venture would extend that international footprint through a platform designed to serve Indonesia and gradually reach neighbouring markets.

The commercial logic is to combine Anjoy’s product development and manufacturing capabilities with a partner’s established market access. For frozen foods, factory capacity alone is insufficient: reliable temperature-controlled distribution, consistent product quality and retail availability are essential to reaching consumers. Local operations could also help the company adapt its assortment and respond more quickly to demand.

The agreement therefore represents a further step toward localized overseas operations. Its longer-term value will depend on whether the partners can translate their respective capabilities into efficient production and sustained distribution. Approvals, construction, supply-chain development and market execution remain the milestones separating the investment plan from an operating business

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