Rengo Co Ltd has confirmed that its joint venture in Thailand, Thai Containers Group Co Ltd (TCG), has entered into a conditional share purchase agreement to acquire 60% of the shares in Indonesian corrugated packaging manufacturer PT Prokemas Adhikari Kreasi (Mypak) through TCG Solutions Pte Ltd, by the end of 2025.
Mypak is a leading corrugated packaging manufacturer with one corrugated packaging factory located in Bekasi Regency in the western part of Java Island.
The Rengo Group has four corrugated packaging factories owned by PT Surya Rengo Containers, a joint venture with PT Indofood CBP Sukses Makmur Tbk, a major food company, and seven corrugated packaging factories through TCG in Indonesia. Through the acquisition of shares this time, the Group will have 12 corrugated packaging factories in total.
“The business in Southeast Asia, including that of Indonesia, has been positioned as an important strategic focus for the overseas operations of the Rengo Group as the General Packaging Industry (GPI), and we will continue to drive further enhancement of our business in the future,” said the company in a statement on its website.
