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Business deals

Universal Robina buys Malaysia biscuit brand for $453m

Deal by Philippine food company follows exit from New Zealand and Australia

Universal Robina now owns Munchy’s, a leading snack brand in Malaysia. (Source photos from Universal Robina and Munchy's websites)

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.

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