Recapital Buys Losari Coffee Plantations-Resorts & Spa

The Recapital Group becomes the owner of Losari Coffee Plantations-Resort & Spa after it acquires 100% shares of Losari from Italy's Teggia Group. President Director of Recapital Rosan Perkasa Roslani confirmed the acquisition. "We have agreed to buy Losari Coffee Resort from the Teggia Group," he said
However, he declined to expose the acquisition value. "We are bound with a confidentiality agreement."
The acquisition of Losari Coffee Plantations-Resort & Spa by Recapital serves as a addition to the group's hotel portfolio, which has already had Grand Kemang Hotel through PT Kemang Jaya Raya..
Recapital, through Acuatico Pte Ltd, is also eyeing drinking water businesses in several regions, such as Dumai, Bandung, Batam, Central Java, and East Java.
This year, the company will try to realize its drinking water businesses in Dumai and Bandung. Recapital will also dispose its 80% stake in Pizza Hut, owned through PT Alberta Investment, to PT Sriboga Ratu Raya.
Losari Coffee Plantation-Resort & Spa is a resort boutique consisting of 26 villas. Those villas are located among coffee plantations that have historical values.
Previously, the resort was owned by a Dutchman, Gustav Van Der Swan, from 1922 to 1964 before it was bought by an army retiree from Salatiga, Tjokropawiro. After that, Gabriella Teggia, an Italian resort businessperson, bought the resort.
The coffee plantation is developed on 22 hectares of areas and is located 900 meters above the sea height near the city of Magelang, Central Java.