PT Supra Boga Lestari Tbk, hereinafter referred to as the Company, was established on 28 May 1997 and is engaged in modern retail industry. The Company’s name is not changed until now. In 1998, the Company started its modern retail business in modern by opening the first supermarket, “Ranch Market” which is with franchise license from Ranch Market USA. Later on, the Company adjusted the concept of Ranch Market supermarket to suit with the needs of upper and middle class customers in Indonesia. Ranch Market opened afterwards were already with a concept that the Company believed was in accordance with the Company’s vision and mission.
In 2007, the Company developed new supermarket concept aimed at the middle and upper middle class customer by creating a new brand namely “Farmers Market”. Farmers Market has bigger display area and more assortment on local products.
In 2010, the Company terminated the agreement with Ranch Market USA and since then the Company has obtained approval to use Ranch Market brand in Indonesia and separated from Ranch Market USA.
In 2012, the Company made a public offering of 312,897,500 shares on the Indonesia Stock Exchange. This corporate action has been stated in the Notarial Deed No. 15 of Fathiaah Helmi, Notary in Jakarta and has obtained the Approval of Amendment to the Company’s Articles of Association from the Minister of Law and Human Rights Republic of Indonesia No. AHU-03125.AH.01.02. Year 2012 .
At end of 2018, the Company has operated 37 stores of Ranch Market and Farmers Market located in Jakarta and its surroundings, Serpong, Cikarang, Surabaya, Malang, Balikpapan and Samarinda.