PT Supra Boga Lestari Tbk (“The Company”) was established in 1997. The Company started its operations by opening the first supermarket (Ranch Market) in January 1998, which initially with franchise arrangement from Ranch Market USA. Later on, the Company made improvements and adjustments to Ranch Market to suit with the market and lifestyle of customers in Indonesia. In 2010, the Company entered into termination agreement with Ranch Market USA. Furthermore, the Company entered into agreement to obtain license to use Ranch Market brand in Indonesia and separate from Ranch Market USA.