Philippines-based snack and beverage manufacturer Universal Robina Corporation has announced that it has purchased Snack Brands Australia for a fee of around $460 million.
The move will see Universal Robina Corp expand its portfolio in the Oceania region.
A spokesperson for the group said: “URC plans to create a wider footprint in the Oceania region with SBA providing a solid anchor in the highly competitive Australian fast moving consumer goods and retailing market.”
In 2014, Universal Robina acquired Griffin’s Foods Ltd, New Zealand’s leading snack maker, from Australia’s Pacific Equity Partners.
© FoodBev Media Ltd 2024