Sido Muncul

Sido Muncul (IDX: SIDO) is a publicly listed herbal medicine and food products company based in Semarang, Indonesia, established in 1940. It produces and markets a variety of consumer products related to herbal medication, such as the jamu Tolak Angin.

PT Industri Jamu dan Farmasi Sido Muncul Tbk
Public
Traded asIDX: SIDO
IndustryPharmaceuticals
Consumer goods
Founded1940
HeadquartersSemarang, Central Java, Indonesia
Key people
David Hidayat (CEO)
Revenue Rp 3.07 trillion (2019)
Rp 807.7 billion (2019)
Total assets Rp 3.54 trillion (2019)
Number of employees
4,088 (2019)
Websitesidomuncul.co.id

History

The company was founded in 1940 as a home business in Surakarta. Its founder, Rakhmat Sulistio, had formulated a recipe for a jamu, which she called "Tujuh Angin" (Seven Winds), later known as Tolak Angin. Due to the Indonesian National Revolution, she moved to Semarang, where in 1951 she established production for the jamu in a house and later in a factory by 1953. It was in 1951 when the name "Sido Muncul" was adopted, and the product changed from liquid to powdered jamu. The firm was registered as a CV in 1970, and as a limited liability company (PT) in 1975.[1][2][3]

In 1992, its primary product Tolak Angin began to be sold in sachets as a liquid, its current form.[4] Sido Muncul launched a secondary line of energy drink products under the Kuku Bima Ener-G brand in 2004, at a time when the company was undergoing financial difficulties.[5] Other lines of products outside of Tolak Angin were later launched, including candies, health drinks, and instant coffee.[6] The company went public through an initial public offering at the Indonesian Stock Exchange on 18 December 2013,[7] becoming the first herbal medicine company to list there.[8] Six months after the IPO, the original founder's family held 81 percent of the company's shares.[9]

Sido Muncul acquired Yogyakarta-based PT Berlico Mulia Farma, a pharmaceutical company which manufactured cough syrup, indigestion pills, and vitamins, in mid-2014, for Rp 125 billion.[10] Sido Muncul's brands were then given to Berlico's products.[11]

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References
  1. Hafiz, Muhammad Perkasa Al (28 February 2018). "Sejarah Sido Muncul, Merek Jamu Indonesia Yang Mendunia". marketeers.com (in Indonesian). Retrieved 18 May 2020.
  2. "Sido Muncul to acquire pharmaceutical company". The Jakarta Post. 20 May 2014. Retrieved 18 May 2020.
  3. "Mengintip Syuting Sejarah Jamu Tolak Angin Sido Muncul di Yogya". detiknews (in Indonesian). 31 May 2017. Retrieved 18 May 2020.
  4. Astutik, Yuni (20 February 2020). "Setelah Jamu Godok & Cair, Kini Tolak Angin Berbentuk Kapsul". CNBC Indonesia (in Indonesian). Retrieved 18 May 2020.
  5. Andriati, Rias (18 March 2011). "Inovasi Rasa dan Iklan, Kunci Sukses Kuku Bima Energi". SWA (in Indonesian). Retrieved 18 May 2020.
  6. "Sejarah Sido Muncul" (in Indonesian). Sido Muncul. Retrieved 18 May 2020.
  7. "Sido Muncul Resmi Melantai, BEI Cetak Rekor IPO". KOMPAS.com (in Indonesian). 18 December 2013. Retrieved 18 May 2020.
  8. "Indonesian herbal medicine maker Sido Muncul to buy pharmaceutical firm". Reuters. 19 May 2014. Retrieved 19 May 2020.
  9. Bland, Ben (1 June 2014). "Appetite grows for Indonesia's herbal remedies". Financial Times. Retrieved 18 May 2020.
  10. "SIDO akuisisi Berlico Mulia Rp 125 miliar". Kontan (in Indonesian). 4 September 2014. Retrieved 19 May 2020.
  11. "Perkuat Bisnisnya Sido Muncul Akusisi Berlico Mulia Farma". Tribunnews.com (in Indonesian). 5 September 2014. Retrieved 19 May 2020.
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