Proterra invests $100m in Southeast Asia's FKS Food & Agri

The investment gives Proterra a minority stake of undisclosed size in FKS Food & Agri. The company will use the new capital to expand its food processing and logistics business in Indonesia and Southeast Asia.

As the flagship business of FKS Group, whose holdings also include energy and property, FKS Food & Agri handles marketing, procurement, shipment, logistics and distribution of food and agricultural products. It is the biggest supplier of soybeans and soybean meal to Indonesia’s food and feed industries, and owns one of the country’s largest sugar refinery groups as well as wheat and corn flour mills.

Food and agriculture are at the center of the investment strategy for Proterra, which began as the private equity arm of agribusiness giant Cargill’s alternative investment branch Black River Asset Management. The firm spun out in 2015, keeping the same management and agribusiness strategy and retaining Cargill as a major LP.

Proterra’s investments in Asia include agricultural land in Australia and a banana plantation in Southeast Asia. Dairy is also a major part of the portfolio, with investments including AustAsia, China’s fifth-largest dairy farming company, and Indonesian dairy producer Greenfields. The firm recently exited a minority stake in India’s Dodla Dairy to TPG Capital for $50 million.

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• Topics
• Southeast Asia
• Industrials
• Expansion
• Indonesia
• Agriculture
• Proterra Investment Partners