DailyCo, a food and beverage operator in Indonesia, has acquired Waku, a catering and canteen management firm, to strengthen its position in the institutional food services sector.

Waku serves over 10 million meals annually to 658 corporate and government clients across 20 cities in Indonesia, offering a diverse menu of 15,000 items. The company has reported profitability and an 88% year-on-year revenue growth.

Waku has also secured a contract with Indonesia’s Ministry of Religious Affairs to provide pre-packaged meals for the Hajj pilgrimage.

Waku will operate as a subsidiary of DailyCo, maintaining its current systems, partners, and clients.

DailyCo plans to enhance synergies in supply chain management, kitchen infrastructure, and enterprise sales.

🔗 Source: DailyCo

🧠 Food for thought

1️⃣ Indonesia’s institutional food market consolidation reflects broader food industry trends

DailyCo’s acquisition of Waku signals the beginning of consolidation in Indonesia’s highly fragmented food service market, mirroring global patterns in the food industry.

The Indonesia foodservice market is projected to grow from USD 62.4 billion in 2025 to USD 115 billion by 2030, with a robust CAGR of 13.00%, making it an attractive target for consolidation strategies1.

This high-growth trajectory is driven by Indonesia’s expanding middle class, increasing urbanization, and changing workplace dining expectations, factors that favor larger, more technologically advanced providers like the newly combined DailyCo-Waku entity.

The transaction aligns with broader food industry M&A trends where companies are pursuing acquisitions that deepen presence in specific categories rather than transformational deals2.

By bringing together complementary capabilities, DailyCo can now leverage Waku’s proven B2B expertise to win more high-profile institutional accounts, such as the recently announced Ministry of Religious Affairs contract for Hajj pilgrimages.

2️⃣ Talent acquisition drives food industry M&A success beyond financial metrics

DailyCo’s appointment of Waku founder Anthony Gunawan as CHRO demonstrates how smart acquirers prioritize human capital alongside business assets in the food service industry.

Identifying and retaining talent is consistently identified as one of the top operational challenges during food company acquisitions, often determining the ultimate success of integration efforts3.