Universal Robina Corp, the Philippine-based snacks and drinks maker, has announced the acquisition of Snack Brands Australia for around A$600m (€408m). The deal comes just two years after Robina acquired Griffin’s Foods, New Zealand’s largest snacks maker, for A$645m.
SBA is the second-largest player in the A$1.4bn Australian salty snacks category, with a market share of nearly 30%. It has a wide portfolio of chips brands like Kettles, Thins, CC’s and Cheezels. It is also a preferred private label supplier and partner of the major Australian retailers. The company has two manufacturing facilities in Sydney.
The deal is the sixth-largest international buy by a Philippine company, and will be conducted by Robina’s URC International subsidiary. URC said the acquisition offers it a “solid anchor in the highly competitive” Australian market.
The deal, which requires approval from the Australian Foreign Investment Review Board, will be funded by long-term debt and other sources.