PT. Matahari Putra Prima

What PT. Matahari Putra Prima does

PT Matahari Putra Prima Tbk (IDX: MPPA) is an Indonesian multi-format modern retail company headquartered in Tangerang, Banten. The company operates more than 170 stores across 78 cities through six distinct retail brands — Hypermart (flagship hypermarket), Foodmart (food-focused), Hyfresh (fresh produce specialty), Primo, Boston, and Fmx (regional formats) — selling fresh produce, groceries, bakery, household essentials, personal care, and ready-to-eat meals primarily to Indonesian families. All 139 multi-format store locations hold Halal certification from BPJPH and ISO 22000:2018 Food Safety Management System certification. The company also operates a private-label range under the Hypermart brand and a Hicard loyalty mobile application with Spin & Win gamification targeted at mothers as primary household purchasers.

MPPA's revenue model is predominantly transactional retail store sales supplemented by marketplace-driven omnichannel revenue. It generates IDR 7,253 billion (~USD 450M) in FY 2025 net sales, up 1.9% year-over-year, with a gross profit of IDR 1,267 billion. Distribution is omnichannel: physical stores are complemented by virtual storefronts on Indonesia's major e-commerce and quick-commerce platforms — Gojek/Go-Mart (76 virtual stores), Tokopedia (95 virtual stores, the widest online platform presence among Indonesian food retailers by end of 2021), Shopee, GrabMart, and HappyFresh — plus WhatsApp Chat & Shop ordering and Park & Pickup. Logistics partnerships (Samudera Indonesia for inter-island shipping) and payment-rail partnerships (Pluxee Indonesia across 182 stores) round out the channel mix.

The company has been loss-making for multiple years (FY 2023 net loss IDR 255B; FY 2024 IDR 118B; FY 2025 IDR 152B) with a small operating profit of IDR 26B in FY 2025, but turned net profitable in Q1 2026 (IDR 1.6B). Capital structure has required repeated rights issues — Rights Issue VI (2021), VII (2023), and VIII (2026) — to support omnichannel investment and balance sheet repair following negative equity. Under CEO Adrian Suherman (appointed September 2022), MPPA is executing a "Retailer of the Future" transformation, including a significant Hypermart rebranding in August 2025 (Golden Smile Movement, Belanja Bikin Happy campaign), new compact-store formats, and an affiliated M&A transaction (SFI and PCL, April 2026), alongside a sustainability program (MPPAMore) including a Food Rescue Warrior initiative with FoodCycle Indonesia and DBS Foundation.

Name

PT. Matahari Putra Prima

Legal name

PT Matahari Putra Prima Tbk

Website

https://mppa.co.id

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

PT Matahari Putra Prima is an Indonesian multi-format modern retailer operating 170+ stores across 78 cities under six brands including Hypermart, Foodmart, and Hyfresh, selling fresh produce, groceries, and household essentials to Indonesian families through physical stores and major e-commerce marketplace partnerships.

Ownership category

akta.pro rank

Product category

Modern Retail

NAICS

Warehouse Clubs and Supercenters (455211)

SIC

Retail-Misc General Merchandise Stores (5399)

akta.pro primary industry

National Big-Box Mass Merchandisers (CRAGABAA)

akta.pro secondary industries

Small-Format / Neighborhood Mass Merchandisers (CRAGABAD), Regional Mass Merchandisers (CRAGABAB)

Keywords

• Modern retail chain
• Hypermarket operations
• Fresh grocery retail
• Multi-format retail
• Private label products

Headquarters

HQ city

Tangerang

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Physical Retail Store Sales: Primary revenue stream from sales of consumer goods across MPPA's network of 170+ multi-format modern retail stores (Hypermart, Foodmart, Hyfresh, Primo, Boston, Fmx) operating in 78 cities across Indonesia. Revenue is derived from in-store customer purchases across food, fresh produce, household essentials, personal care, and private-label products.
2. Private Label Products: MPPA develops and sells private-label products under the Hypermart brand to deliver affordable, quality daily essentials to Indonesian families, contributing to sales mix improvement and margin optimization.
3. Omni-channel / Marketplace Sales: Revenue from online sales through partnerships with major Indonesian e-commerce platforms (Gojek/Go-Mart, Tokopedia, Shopee, GrabMart, HappyFresh), enabling customers to order online and receive deliveries or pick up in stores.

Go-to-market motion1 record

Distribution channels8 records

Marketing channels6 records

Core offering

PT Matahari Putra Prima (MPPA) operates more than 170 multi-format modern retail stores across 78 cities in Indonesia under six retail brands (Hypermart, Foodmart, Hyfresh, Primo, Boston, and Fmx), selling fresh produce, groceries, household essentials, personal care, bakery and ready-to-eat meals. The company complements its physical store network with omnichannel sales through partnerships with major Indonesian e-commerce platforms (Gojek/Go-Mart, Tokopedia, Shopee, GrabMart, HappyFresh), Chat & Shop via WhatsApp, and Park & Pickup contactless pickup, and sells private-label products under the Hypermart brand.

Product overview

PT. Matahari Putra Prima operates Indonesia's largest modern retail network with a multi-format approach. The company manages a portfolio of six distinct store brands: Hypermart (hypermarkets), Foodmart (food-focused format), Hyfresh (fresh produce specialty), Primo, Boston, and Fmx (regional retail formats). The stores span more than 170 multi-format modern retail locations across 78 cities in Indonesia, offering fresh products, grocery items, household essentials, and private label products. The company also operates the Hicard loyalty program app for customer engagement.

Differentiator

Problem solved

Functional benefit

Brands

• Hypermart: Primary retail brand - modern supermarket/hypermarket chain offering fresh products, household essentials, and daily needs at affordable prices. Rebranded in August 2025 with new visual identity featuring infinity ribbon and golden smile logo.
• Foodmart
• Hyfresh
• Primo
• Boston
• Fmx
• Hicard
• MPPAMore

Products and services

• Hypermart Main hypermarket chain of MPPA offering a wide range of grocery products, household essentials, fresh produce, and daily necessities at affordable prices for Indonesian families.
• Foodmart Food-focused retail format complementing the Hypermart brand, specializing in food and grocery offerings for daily household needs.
• Hyfresh Fresh produce specialty format focusing on fruits, vegetables, meat, and fish for Indonesian consumers seeking quality fresh products.
• Primo Modern retail store format under the MPPA portfolio serving local communities with daily essentials.
• Boston Retail store format operating under the MPPA network serving specific regional markets.
• Fmx Modern retail store format within the MPPA portfolio complementing the multi-format store network.
• Hicard Loyalty Application Mobile loyalty application for MPPA customers featuring Spin & Win gamification, exclusive member discounts, promotions, and reward points.
• Chat and Shop by WhatsApp Digital ordering service via WhatsApp enabling MPPA/Hypermart customers to place orders and receive home delivery for grocery products.
• Park and Pickup Contactless pickup service allowing customers to order online and collect purchases at designated store parking locations.

Quantifiable outcome

• Net Sales of IDR 7,253 billion in FY 2025 (+1.9% YoY)
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Partnerships

Nine partnerships are on record, tiered strategic, minor and core.

• FoodCycle IndonesiastrategicStrategic or Co-development Partner · 21 November 2025MPPA collaborates with FoodCycle Indonesia on the Food Rescue Warrior initiative under its MPPAMore sustainability program. The partnership aims to reduce food waste by channeling surplus edible food from Hypermart stores to vulnerable communities, creating positive social and environmental impact.
• DBS FoundationstrategicGTM or Marketing Partner · 21 November 2025DBS Foundation supports MPPA's Food Rescue Warrior program alongside FoodCycle Indonesia, providing funding and resources to expand food rescue operations that channel surplus food to vulnerable communities while reducing environmental impact from food waste.
• Pluxee IndonesiaminorGTM or Marketing Partner · 28 August 2024MPPA announced cooperation with Pluxee Indonesia to offer more payment options in 182 stores, providing customers with additional flexible payment solutions through Pluxee's employee benefits and meal voucher programs.
• Samudera Indonesia (PT Samudera Indonesia Tbk)strategicStrategic or Co-development Partner · 15 November 2022MPPA announced cooperation with Samudera Indonesia to strengthen inter-island logistics, leveraging Samudera's established shipping and logistics network to improve MPPA's supply chain efficiency across Indonesia's archipelago geography.
• HappyFresh (PT Fresh Indonesia)coreGTM or Marketing Partner · 4 November 2021MPPA partnered with HappyFresh for online grocery delivery, contributing to MPPA's goal of becoming the leading food retailer with the widest online platform presence. The collaboration enabled Hypermart products to reach customers through HappyFresh's delivery network.
• Gojek (PT Aplikasi Karya Anak Bangsa)coreGTM or Marketing Partner · 23 July 2021MPPA expanded its partnership with Gojek to operate 76 virtual stores on Go-Mart platform, enabling customers to order Hypermart products for delivery with Gopay cashless payment option. Initial launch of 31 virtual stores occurred on July 9, 2021. This partnership provides MPPA with access to Gojek's large customer base and delivery infrastructure, while Gojek offers customers direct access to Hypermart grocery products.
• Tokopedia (PT Tokopedia)coreGTM or Marketing Partner · 2 June 2021MPPA strengthened and expanded its partnership with Tokopedia with 95 virtual stores nationwide, making MPPA the retailer with the widest presence across Tokopedia's platform. By end of 2021, MPPA had the most extensive online platform presence among Indonesian food retailers through Tokopedia.
• Shopee Indonesia (PT Shopee International Indonesia)coreGTM or Marketing Partner · 14 September 2020MPPA partnered with Shopee Indonesia to bring omnichannel shopping experiences to Indonesian consumers, leveraging Shopee's e-commerce platform and large user base to reach more customers through online channels.
• Grab Indonesia (Grab Holdings)coreGTM or Marketing Partner · 3 August 2020MPPA partnered with Grab (GrabMart) to enable customers to order Hypermart products through the Grab app for delivery, expanding MPPA's omnichannel reach and leveraging Grab's delivery infrastructure.

Scale indicators7 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• PT Trans Retail Indonesia: Operator of Carrefour hypermarkets and other modern retail formats in Indonesia. Most direct comparable in hypermarket format, footprint scale, and grocery-led mass merchandise mix.
• PT Sumber Alfaria Trijaya (Alfamart): Owns the Alfamart minimarket chain and formerly operated Alfa Midi. Closest comparable on Indonesian modern grocery retail scale and family-focused customer proposition, though focused on smaller-format convenience.
• PT Indomarco Prismatama (Indomaret): Indonesia's largest minimarket/franchise convenience chain. Comparable on multi-format Indonesian grocery retail scale and family-customer targeting, but skews toward smaller basket-size convenience stores.
• PT Hero Supermarket: Operates Hero, Giant, and IKEA-adjacent retail formats in Indonesia. Comparable multi-format modern grocery/supermarket positioning, similar middle-class Indonesian family consumer base.
• PT Supra Boga Lestari (Ranch Market): Operates Ranch Market premium supermarkets and Farmers Market in Indonesia. Comparable modern supermarket model targeting affluent urban families, though at the premium end.
• PT Panen Lestari Indonesia (Superindo): Mid-size Indonesian supermarket chain focused on fresh products and household essentials at value prices. Comparable mass-market supermarket positioning and family-customer focus.
• PT Lotte Indonesia (Lotte Mart): Operates Lotte Mart hypermarkets and Lotte Grosir in Indonesia. Direct hypermarket format overlap with MPPA's Hypermart banner, serving similar middle-class Indonesian families.

Broad incumbents

• PT Mitra Adiperkasa (MAP): Multi-format Indonesian retail conglomerate spanning department stores (Sogo), active lifestyle brands, food & beverage, and digital. Broad incumbent with overlapping consumer base but different category mix.
• PT Matahari Department Store (LPPF): Indonesian department store operator with shared historical lineage to MPPA within the Lippo ecosystem. Comparable middle-class Indonesian family consumer base, but non-grocery specialty focus.

Others

• PT Ace Hardware Indonesia: Listed Indonesian specialty retailer of home improvement and hardware products, overlapping in physical-store retail execution and middle-class Indonesian customer base, but in a different product category (home improvement vs grocery).

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PT. Matahari Putra Prima