DailyCo Expands with Waku Acquisition, Appoints Gunawan as CHRO
Deal News | May 07, 2025 | Vertex Venture Management Pte
Indonesian food and beverage operator DailyCo has completed the acquisition of the catering service Wadah Kuliner (Waku). The acquisition underscores DailyCo's growth-focused strategy to consolidate the fragmented institutional catering market in Indonesia, a sector valued significantly in regions like Jakarta and West Java. CEO of Waku, Anthony Gunawan, transitions to Chief Human Resources Officer at DailyCo, while Waku will continue as a subsidiary. This acquisition follows DailyCo’s strategy to expand capabilities through retaining top talent, a stark contrast to cost-cutting M&A strategies. DailyCo's broader roadmap includes further acquisitions, supported by a new funding round, to enhance its capabilities in the institutional F&B sector.
Sectors
- Food & Beverage Services
- Private Equity & Venture Capital
Geography
- Indonesia – Both DailyCo and Waku are prominent players in the Indonesian market, impacting local institutional catering and food services sectors.
Industry
- Food & Beverage Services – DailyCo and Waku operate within the food and beverage services sector, focusing on institutional catering which is a key part of this industry.
- Private Equity & Venture Capital – DailyCo is backed by private equity and venture capital firms like Vertex Growth, indicating involvement in future funding and acquisition strategies.
Financials
- $62 billion – The estimated value of the institutional catering market in Jakarta and West Java where DailyCo aims to consolidate.
- $24 million – The amount raised in the previous Series B funding round led by Northstar Group and Vertex Growth in June 2022.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| DailyCo | Acquirer | Company | An Indonesian multi-brand food and beverage operator focused on institutional catering and market consolidation. |
| Wadah Kuliner (Waku) | Target Company | Company | A B2B catering and canteen service provider in Indonesia, now a subsidiary of DailyCo. |
| Anthony Gunawan | CHRO, Former CEO of Waku | Person | Formerly Waku's CEO, now appointed as Chief Human Resources Officer at DailyCo post-acquisition. |
| Kelvin Subowo | CEO | Person | Founder and CEO of DailyCo, guiding the company's acquisition and growth strategies. |
| Vertex Venture Management Pte. | Investor | Private Equity | A PE firm involved in funding DailyCo's operations and growth strategies. |
| Northstar Group | Investor | Private Equity | Led the previous funding round for DailyCo. |
| Ministry of Religious Affairs, Indonesia | Client | Government | Awarded a contract to DailyCo for providing meals during the Hajj pilgrimage. |