Universal Robina has taken another bite out of the Australasian market by snapping up Snack Brands Australia for A$600 million $461 million, as the Philippine food and beverage giant looks south for new drivers of growth.
The Manila-listed company plans to create a wider footprint in the Oceania region with Snack Brands Australia providing a solid anchor in the highly competitive Australian fast moving consumer goods and retailing market, it said in a statement on Wednesday.
A core part of the Gokongwei family empire, Universal Robina says the acquisition of Snack Brands Australia is “completely synergistic” with Griffin’s Foods, the New Zealand snack food firm...
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