CVC exits Malaysia snacks business to Universal Robina
CVC Capital Partners has agreed to sell Malaysia-based snack foods producer Munchy Food Industries to Universal Robina Corporation (URC) – a branded consumer food and beverage business in the Philippines – for MYR1.93 billion ($454 million).
URC said in a filing that it would buy the asset on a cash-free, debt-free basis. CVC acquired 100% of Munchy in 2018 for an undisclosed sum. The founders offloaded 70%, while a financial investor known...
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