EQT Private Equity invests in Indesso, Southeast Asia's largest natural Flavor & Fragrance ingredients and Food & Wellness solutions provider

• Indesso benefits from the global demand and growing consumer awareness for natural ingredients, and contributes to the development of a sustainable value chain in the flavors & fragrances and wider consumer goods industries
• EQT Private Equity will support Indesso's ambition for continued research driven product innovation and geographical expansion, as well as in enhancing digital capabilities and sustainability, leveraging on EQT's inhouse expertise and global advisory network

STOCKHOLM, May 11, 2021 /PRNewswire/ -- EQT is pleased to announce that the EQT Mid Market Asia III fund ("EQT Private Equity") has invested in Indesso Group ("Indesso" or "the Group"). The founding Gunawan family will retain a majority stake in the Group and remains as management following the transaction.

Established in 1968 and headquartered in Jakarta, Indonesia, Indesso is a leading provider of natural ingredients, serving over 2,000 customers in the Flavors & Fragrances ("F&F") industry in more than 50 countries globally. Indesso's natural products are essential elements used in the formulation of a wide range of flavor ingredients in food and beverage products, as well as aromatherapy and fragrances in consumer products and nutraceuticals.

Over the years, Indesso has established a strong presence as a manufacturer of essential oils including their derivatives and botanical extracts unique to Indonesia. Through continuous research and innovation, it has transformed into an integrated solutions provider across the F&F ecosystem. Indesso is also one of the market leaders in Indonesia supplying F&F products and food ingredients on behalf of its global principals to the fast-growing local consumer goods industry.

Indesso's underlying market is supported by global megatrends, such as the shift to natural based products, and the growing importance of sustainable supply chains. The Group supports the United Nations Sustainable Development Goals through its "People – Partnership – Planet" program, which seeks to develop a traceable and responsible natural raw material sourcing and reduce the environmental impact of its business activities.

EQT has vast expertise and a long history in developing strong assets in the sector, including a global F&F company, and existing portfolio companies Azelis and Chr. Hansen Natural Colors. EQT Private Equity intends to leverage on this experience and its global advisory network, to support Indesso's ambitions for accelerating product innovation and enhancing its raw material sourcing capabilities to continue serving its customers with the best product offering and highest service standards. EQT Private Equity also intends to back Indesso's inorganic growth plans in the region and invest further in the Group's digital infrastructure and sustainability, drawing on its inhouse expert capabilities.