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Indofood was founded in 1968 as Lambang Insan Makmur, an instant noodles business, with its brand Indomie launching in 1972. The company restructured on 14 August 1990 as PT Panganjaya Intikusuma. In 1994, the company was renamed to PT Indofood Sukses Makmur, and was listed on the Indonesian Stock Exchange on 14 July 1994. It is one of the companies owned by the family of Sudono Salim under the Salim Group.In January 2013, as part of a filing for the Indonesia Stock Exchange, Indofood said it is planning to buy 50% of Brazilian sugar-cane processor Companhia Mineira de Açúcar e Álcool Participações, for $72 million.On 17 February 2021, Indofood CBP has officially purchased all of the shares owned by Fritolay Netherlands Holding B.V., an affiliate of PepsiCo at PT Indofood Fritolay Makmur worth IDR 494 billion, so that the production of Lay's, Cheetos and Doritos brand snacks in Indonesia will be stopped on 18 August 2021. IFL was then renamed into PT Indofood Fortuna Makmur. In addition, PepsiCo and its affiliates has also agreed not to produce, package, sell, market or distribute snack products that compete with IFL products in Indonesia for a period of three years. Instead, Lay's, Cheetos and Doritos in the Indonesian market have been rebranded into Chitato Lite, Chiki Twist and Maxicorn, respectively.
