B2B catering and canteen management services firm Waku acquired by Indonesia’s DailyCo
DailyCo, a multi-brand food and beverage (F&B) operator with headquarters in Indonesia, has purchased Wadah Kuliner (Waku), a regional F&B business that provides corporate and governmental clients with canteen management and catering services.
DailyCo said in a statement on Tuesday that it now oversees one of the nation’s biggest institutional catering networks as a result of the acquisition, putting it at the forefront of a F&B market that is being driven more and more by digitization, consolidation, and changing workplace standards.
The B2B catering market in Jakarta and West Java alone is a $62 billion opportunity, it was noted.
Daily meals, snack boxes, buffets, coffee breaks, pantry supplies, and more are among the services provided by Waku, which was founded in 2017.
The company has achieved EBITDA positivity and a revenue growth of 88% year over year in recent years.
It has a 98 percent repeat order rate and serves over 10 million meals a year to over 658 customers in 20 Indonesian cities.
The company offers a menu with over 15,000 options and collaborates with more than 60 kitchens to accommodate a range of dietary needs and event specifications.
DailyCo has named Anthony Gunawan, the founder and CEO of Waku, as its Chief HR Officer (CHRO).
The purpose of the strategic acquisition is to increase DailyCo’s capacity to offer inventive and scalable dining solutions to establishments and enterprises throughout Indonesia.
With its current partners, systems, and clientele, the Waku brand will remain a fully owned subsidiary of DailyCo.
According to the statement, Anthony’s new position as human capital leader will improve internal alignment and workforce development while facilitating the unlocking of operational synergies across kitchen infrastructure, procurement, supply chain, and enterprise sales.
A major new revenue stream for the company was recently created when it signed a notable agreement with the Ministry of Religious Affairs to start providing pre-packaged meals to Indonesia’s Hajj pilgrims. For the combined company, the agreement represents a significant new chapter.
The high volume, high complexity of the contract is thought to be a test of DailyCo’s operational excellence in serving institutional clients on a national scale.
Waku’s other notable clients include major events like the FIFA World Cup and corporate organizations like Lazada, Bank Central Asia, BRI Group, Mandiri Group, and Tokopedia.
