Yupi Indo Jelly Gum, Southeast Asia's top gummy manufacturer, is reportedly drawing interest from investment giants TPG Inc. (NASDAQ:TPG), KKR & Co. Inc. (NYSE:KKR), and Blackstone Inc. (NYSE:BX).

The deal, still in its early stages, values Yupi Indo Jelly Gum at approximately $500 million, according to The Wall Street Journal.

Founded in 1996 as a joint venture with a major European gummy manufacturer, Yupi has grown to become Southeast Asia's largest gummy candy producer.

The company manufactures over 50 million gummies daily and distributes its products across North America, Australia, Europe, and the Middle East.

In addition to the private equity firms, Yupi Indo has also attracted interest from strategic buyers in the Philippines and Indonesia.

As per the WSJ report, the company is consulting with an international bank to explore its options.

Indonesia's consumer-goods sector is garnering heightened interest from investors due to the country's growing middle class, increasing incomes, and the rise of online shopping.

According to the report, Dealogic data shows Indonesian companies targeted $14.36 billion in mergers and acquisitions in 2023, down from $22.92 billion the previous year.

In May, KKR and TPG are reportedly exploring options, including a buyout of Southeast Asian online real estate platform PropertyGuru Group Limited (NYSE:PGRU).

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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