Charoen Pokphand Indonesia, the largest producer of poultry feed, day old chicks and processed chickens in Indonesia, will not acquire convenience store (franchise) 7-Eleven from Modern Putra Indonesia, a subsidiary of Modern Internasional. On Monday (05/06) Modern Internasional said it had scrapped the deal while both parties had earlier signed a business acquisition agreement, in April 2017, regarding the sale of the 7-Eleven franchise for IDR 1 trillion (approx. $75.2 million).

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Charoen Pokphand Indonesia, the nation's largest producer of poultry feed, day old chicks and processed chickens, is set to acquire convenience store (franchise) 7-Eleven from Modern Putra Indonesia, a subsidiary of Modern Internasional. The deal, which is worth IDR 1 trillion (approx. USD $75 million), now only requires approval from Modern Internasional's shareholders. Rumors about this take-over had been heard since late March 2017.

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Indonesia Investments presents an updated company profile of Charoen Pokphand Indonesia, the leading company in Indonesia's poultry feed and day old chicks (DOC) industries, having a dominating market share of 35 percent in both industries. The poultry meat industry in Indonesia has good prospects as the country's current per capita poultry meat consumption is relatively low, while per capita GDP is rising. Moreover, chicken meat is cheaper than beef and fish, while pork is generally not eaten due to Islamic principals.

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