Universal Robina buys Snack Brands Australia for around $461m

Philippines-based snacks and beverage manufacturer Universal Robina has announced the acquisition of Snack Brands Australia (SBA) for A$600m ($460.86m).

With this purchase, Universal Robina intends to boost its position in this region and expand its product portfolio.

A Universal Robina spokesperson was quoted by Foodbev.com as saying: “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.”

Consolidated Snacks uses the SBA brand, which sells salty snacks.

Universal Robina subsidiary URC International will buy a 100% stake in Consolidated Snacks from Toccata Securities and Hopkins Securities.

In 2014, Universal Robina acquired New Zealand-based snack manufacturer Griffin’s Foods from Australia’s Pacific Equity Partners for NZ$700m ($510m).