MANILA -- Philippine snack maker Universal Robina on Friday said it is buying Malaysian biscuit producer Crunchy Foods in a deal worth 1.93 billion ringgit ($453.7 million).
Crunchy Foods owns Munchy's, a leading confectionery brand in Malaysia, as well as Oat Krunch, Lexus, Muzic and Choc-O, which are sold in over 50 countries. Universal Robina said it acquired its peer from CVC Capital Partners on a "cash-free, debt-free" basis. CVC took over Munchy's in 2018.
