Universal Robina Corp. (URC) has sealed its acquisition of Malaysian biscuit maker Crunchy Foods Sdn. Bhd for P22.9 billion.

Crunchy Foods owns Munchy’s, Malaysia’s No.1 biscuit brand which has a presence in more than 50 countries. Its other brands include Oat Krunch Lexus, Muzic and Choc-O.

The acquisition of Munchy’s will further expand URC’s presence in Southeast Asia.

The acquisition follows URC’s exit from Oceania with the sale of Snack Brands Australia and New Zealand’s Griffin’s Foods, which raised around $450 million in fresh capital for the Gokongwei-led company.

URC said the divesment would allow it to “focus on other growth segments and geographies across developing markets”.

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Gokongwei family completes takeover of Malaysia’s Crunchy Foods
Source: Filipino Daily Inquirer