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Nov 29, 2021 7:50 PM PHT

Gokongwei buys Malaysia’s Munchy Food for P22.8 billion

Ralf Rivas

Gokongwei-led Universal Robina Corporation (URC) acquired Malaysia’s Munchy Food Industries (Munchy’s) for $453.5 million (P22.8 billion).

In a stock exchange filing, URC said its subsidiary, URC Snack Foods Malaysia, has reached an agreement with private equity firm CVC Capital Partners to acquire 100% of Munchy’s.