Arrow Artboard Created with Sketch. Artboard Created with Sketch. Title Chevron Title Chevron Icon Facebook Icon Linkedin Icon Mail Contact Path Layer Icon Mail Positive Arrow Icon Print Business deals Japan's Calbee pulls out of Philippine potato chip venture Snackmaker is latest seller of premium products to exit competitive market Calbee's potato chips were 40% more expensive than offerings from joint venture partner Universal Robina.
CLIFF VENZON, Nikkei staff writer September 26, 2018 21:58 JST | Philippines
MANILA -- Japanese snackmaker
Calbee on Wednesday said it would pull out of its potato chip venture in the Philippines with food and beverage group Universal Robina after it failed to make money.
Calbee said it was selling its 50% stake in the joint venture to its Filipino partner for around 170 million pesos ($3.13 million).
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