SPAR International and PT. Ramayana Lestari Sentosa Tbk (‘Ramayana’) have entered into a partnership agreement to open 30 new SPAR supermarkets across Indonesia within the next three years.
This deal is part of Ramayana’s plan to expand its food retail business. The new agreement with SPAR International will rebrand Ramayana’s existing stores to SPAR, in addition to the development of new store sites nationwide.
The first SPAR store, under the plan, will be operational before the end of 2014 in Indonesia.
SPAR International is the world’s largest food voluntary retail chain with over 12,000 stores worldwide and global retail sales of €32.2bn in 2013.
The partnership with Ramayana represents a further development in the growth of SPAR in Asia following the recent successful re-establishment of its presence in India and in China where SPAR International now has over 250 large format stores with retail sales in excess of €1.6bn.
Ramayana operates 118 stores throughout Indonesia trading under the Ramayana, Robinson and Cahaya retail brand names.
SPAR International global retail director Tobias Wasmuht said: "Our new partnership with Ramayana in Indonesia is consistent with SPAR International’s strategic focus on partnering with leading local and regional chains in growth markets in Asia."
"Together we unite the best of SPAR’s global retail expertise and Ramayana’s extensive and longstanding understanding of the Indonesian customer. Ramayana has a proven record of success and a strong entrepreneurial culture and represent a great strategic partner for SPAR International."