Vietnam’s PAN Group sells famed Bibica confectionery brand to Indonesia’s Sari Murni Abadi

Neither company disclosed the value of the transaction, which was reported by the Jakarta Globe on Monday.

Bibica, one of Vietnam’s largest confectionery and biscuit producers, operates factories in Hanoi and former Long An Province, which was merged into Tay Ninh Province following a July 2025 administrative reorganization.

It distributes products to more than 100,000 outlets nationwide and also exports to Japan, South Korea, and the United States.

SMA chief financial officer Servin Njoo said the acquisition supports the company’s plan to expand overseas and strengthen its portfolio of fast-moving consumer goods.

He added that the synergy with Bibica Vietnam will improve cross-border production and distribution efficiency.

PAN Group, led by chairman Nguyen Duy Hung, acquired a controlling stake in Bibica in 2018 after years of ownership disputes between the Vietnamese brand and South Korea’s Lotte Group.

By 2022, PAN had raised its holding to 98.3 percent, turning Bibica into a wholly-owned subsidiary.

Founded in 1999 as Bien Hoa Confectionery Co., Bibica became a joint-stock company in 2007 and was later renamed Bibica Corp.

It reported 2024 revenue of VND1.78 trillion (US$67.63 million) and a post-tax profit of nearly VND120 billion ($4.56 million).

Bibica shareholders approved the company’s delisting and removal of its public company status in September after PAN’s buyout left fewer than 100 non-majority investors.

Following the sale, PAN said it had set up a wholly-owned subsidiary, Bibica Capital Co. Ltd., with registered capital of VND1.65 trillion ($62.7 million) to manage its remaining assets and investment activities.