To Expand Market, Wahana Interfood (COCO) Acquires Momogi Group
JAKARTA, KOMPAS.com - PT Wahana Interfood Nusantara Tbk (COCO), known as the Win&Co Group, has signed a Conditional Share Purchase Agreement (CSPA), or conditional share sale and purchase agreement, regarding plans to acquire shares in PT Sari Murni Abadi (Momogi Group).
Under the CSPA, Win&Co Group will acquire up to 99.99% ownership of shares in Momogi Group once certain preconditions are met.
Momogi Group is one of the companies that has received the top brand award in Indonesia for 17 consecutive years and has expanded into Vietnam through the integration of Bibica Corporation in the snack food and confectionery sector, which has over two decades of experience.
Momogi Group itself has two manufacturing facilities located in East Java and West Java, and two manufacturing facilities in Vietnam through Bibica Corporation.
Win&Co Group’s President Director, Sugianto Soenario, stated that the planned acquisition of Momogi Group is a step by Win&Co Group to strengthen the company’s growth foundation.
“We see significant synergy potential from product development, distribution, to market expansion. Through this transaction, Win&Co Group will also expand the company’s business into food and ingredients with access to two of the fastest-growing consumer markets in Southeast Asia, namely Indonesia and Vietnam,” said Sugianto in an official statement on Saturday (9/5/2026).
Based on Statista data, the snack food market in Southeast Asia is projected to grow at a compound annual growth rate (CAGR) of around 6-8% until 2030. This is driven by the growth of the middle class, urbanisation, and increasing consumption of convenient food products in the region.
Win&Co Group views Momogi Group as a partner with a strong business foundation, both in the domestic and international markets.
In addition, Momogi Group’s strategic move through the acquisition of Bibica Corporation further expands the company’s market access in Southeast Asia, as the combined entity will have a significant market share in Indonesia and Vietnam as the two main markets in Southeast Asia, with access to more than 270 million consumers in Indonesia and around 100 million consumers in Vietnam.
The complementary combination of Win&Co Group, Momogi Group, and Bibica Corporation’s portfolios opens up broad synergy opportunities, from product development to distribution expansion in the regional market.