Jakarta –
Kentucky Fried Chicken or KFC is one of the fast food chains with the largest in the world. In Indonesia, fast food restaurants are under the auspices of PT Fast Food Indonesia Tbk (FAST), the company that holds the sole franchise rights for the Indonesian KFC brand.
According to the company’s official website, as the sole franchise holder for the KFC brand in Indonesia, PT Fast Food Indonesia Tbk was founded by the Gelael family in 1978. In 1979, the company obtained a franchise acquisition by opening its first outlet in October on Jalan Melawai in Jakarta.
The opening of the first outlet proved successful and was followed by the opening of further outlets in Jakarta and expansion to a number of other major cities in Indonesia, including Bandung, Semarang, Surabaya, Medan, Makassar and Manado.
Then in 1990, the Salim Group joined as one of the major shareholders to further encourage the Company’s business expansion initiatives. Then in 1993 the Company was registered as an issuer on the Jakarta Stock Exchange (now the Indonesia Stock Exchange), one step to increase its growth.
The majority share ownership (80%) is currently 43.84% distributed to PT Gelael Pratama from the Gelael Group and 35.84% to PT Megah Eraraharja from the Salim Group; while the minority shares (20%) are divided into Community and Employee Cooperatives.
Currently the company itself has around 727 KFC outlets spread across 170 cities/regencies throughout Indonesia. Thanks to this success, the Galael family was able to have quite an abundance of wealth.
In fact, Ricardo Gelael, who is the second generation heir of the company, was included in the ranks of the 150 richest people in Indonesia in 2018 according to Globe Asia.
At that time boss KFC is listed as the 133rd richest person in Indonesia with a net worth of US$ 185 million or the equivalent of Rp. 2.59 trillion (assuming an exchange rate of Rp. 14,000/US dollar).
(fdl/fdl)
