ICBP was established as a separate entity in September 2009 and listed on the IDX on 7 October 2010. It was established by means of internal restructuring of the CBP Group of Indofood, the parent company, listed on the IDX since 1994.

Most of ICBP's business operations and product brands have been well-established for many years, with many of them enjoying leading positions in their respective market segments. The histories of its various business operations are as follows:

The noodles business commenced with the launch of Sarimi brand. Other brands such as Indomie, Supermi and Pop Mie were added in 1984, 1986 and 1988 respectively.

The nutrition and special foods business commenced with Promina as the first brand. The SUN brand was launched in 1989 to cater to a different market segment.

The snack foods business was established in 1990 through a 51:49 joint venture subsidiary with Seven-Up Nederland B.V., an affiliated company of PepsiCo Inc., with the launch of three brands, Chitato, Chiki and JetZ. In 1992 and 2005 Pepsico's brands Cheetos and Lays were introduced. In 2007 Qtela brand was launched to penetrate the traditional snack market.

The food seasonings business commenced with soy sauce, marketed under two brands, Piring Lombok and Niki Echo. In 1992, the Indofood brand was launched for soy sauce and other products including chili sauce and instant seasonings. In 2005 PT Nestlé Indofood Citarasa Indonesia (NICI) was established as a 50%-owned joint venture company with Nestlé SA, with responsibility for marketing of only culinary products. In 2007 Indofood cordial syrup was introduced to the market.

The biscuit business commenced with two brands: Trenz, catering to the young adult, and Wonderland, catering to families.

The dairy business was added through the acquisition of Drayton Pte. Ltd., the 68.57% owner of PT Indolakto, the second largest player in the market. Its flagship brand, Indomilk, has been present in Indonesia for more than four decades.