Investors in Indonesian coffee chain Kopi Kenangan are considering selling parts of their stakes in the company, as reported by Bloomberg.
Among those exploring these partial exits are Singapore’s GIC and Peak XV Partners, previously known as Sequoia Capital India and Southeast Asia, which is seeking guidance from a financial adviser.
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These discussions are at a preliminary phase, and it remains uncertain whether any transactions will materialise or the extent of the stakes that may be sold.
The valuation of Kopi Kenangan in a potential deal could range from $1.2bn to $1.4bn, although this estimate may evolve as negotiations progress.
Founded in 2017, Kopi Kenangan has established more than 800 grab-and-go coffee outlets in 45 cities across Indonesia, with additional offices in Jakarta, Singapore and Malaysia.
Its offerings include coffees, frappés, manual brews, shakes, hot and iced teas, and refreshers.
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By GlobalDataIn April 2025, Kopi Kenangan launched its first store in India, located at the Pacific Mall in New Delhi.
The company aims to establish a minimum of ten outlets in the country by the close of 2025, with aspirations to reach a total of 50 in the longer term.
Known globally as Kenangan Coffee, the brand is committing up to $4.6m towards its retail growth and the creation of a local coffee sourcing initiative.
The move is part of its strategy to introduce the Indonesian coffee experience to the Indian market.
