Jakarta, IDN Times – PT Wahana Interfood Nusantara Tbk (Win&Co Group) officially signed a Conditional Share Purchase Agreement (CSPA) on May 6, 2026, to acquire PT Sari Murni Abadi, widely known as the Momogi Group. This strategic acquisition is set to grant Win&Co Group control of up to 99.99 percent of Momogi Group’s shares once all customary closing conditions are satisfied.
1. Strengthening the Foundation for Growth
Sugianto Soenario, President Director of Win&Co Group, highlighted that the acquisition is a pivotal step in reinforcing the company’s growth foundation. “We recognize immense synergy potential in product development, distribution, and market expansion. Through this transaction, Win&Co Group will evolve into a broader Food and Ingredients enterprise, gaining direct access to two of Southeast Asia’s fastest-growing consumer markets: Indonesia and Vietnam,” Sugianto stated on Thursday (May 7, 2026).
2. Positive Outlook for the Southeast Asian Food and Beverage Industry
Soenario noted that the food and beverage industry in Southeast Asia is poised for significant growth over the coming years. According to Statista, the regional snack market is projected to grow at a compound annual growth rate (CAGR) of 6–8 percent through 2030, fueled by a rising middle class, rapid urbanization, and an increasing preference for convenient food products.
Win&Co Group views Momogi Group as a strategic partner with a robust business footprint, both domestically and internationally. Momogi Group’s own strategic acquisition of Bibica Corporation has already significantly broadened its market reach. The combined entity will command a substantial market share in Indonesia and Vietnam, with access to a massive consumer base of over 270 million people in Indonesia and approximately 100 million in Vietnam.
“The integration of the Win&Co Group, Momogi Group, and Bibica Corporation portfolios creates complementary strengths that open wide opportunities for synergy, ranging from product innovation to expanded regional distribution,” he added.
3. Creating Business Value through Strategic Collaboration
Servin Njoo, Director of Momogi Group, emphasized that this transaction aligns with the company’s objective to strengthen its business structure and accelerate growth across both local and international markets. “We see this collaboration with Win&Co Group as a unique opportunity to create value through synergistic portfolios and complementary capabilities. By uniting our respective brand strengths and distribution networks, we are optimistic about driving sustainable business growth,” Njoo stated.
Beyond market reach, this integration is expected to generate value through operational efficiency and supply chain optimization, covering raw material procurement, production processes, logistics, and distribution.
The acquisition marks a major turning point for Win&Co Group, signaling its transformation from a company primarily focused on premium cocoa and chocolate into a diversified player in the Food and Ingredients and Fast Moving Consumer Goods (FMCG) sectors. The company is aggressively diversifying into various non-chocolate categories, including snacks, biscuits, wafers, and confectionery.
Momogi Group currently operates two manufacturing facilities in East Java and West Java, in addition to two facilities in Vietnam via Bibica Corporation. This acquisition is strategically driven by the high potential for synergy and product portfolio compatibility, providing Win&Co Group with expanded access to high-growth markets across Asia, the Middle East, and Africa.
Expansion to Vietnam: Momogi Partners with Bibica to Broaden Market Reach
Summary
PT Wahana Interfood Nusantara Tbk (Win&Co Group) has signed a conditional agreement to acquire a 99.99 percent stake in PT Sari Murni Abadi, also known as the Momogi Group. This strategic move aims to strengthen the company’s growth foundation by diversifying its portfolio beyond premium cocoa into broader food and ingredient sectors. The acquisition grants Win&Co Group direct access to expansive consumer markets in Indonesia and Vietnam, significantly enhancing its regional distribution and product development capabilities.
The integration of the two entities, which includes the Momogi Group’s existing partnership with Bibica Corporation, is expected to create substantial synergies in operations, supply chain management, and market reach. By leveraging complementary portfolios and manufacturing facilities across Indonesia and Vietnam, the company aims to accelerate sustainable growth within the high-potential Southeast Asian snack and beverage industry. This transformation marks a major evolution for Win&Co Group as it expands its footprint into diverse FMCG categories across international markets.
