JG Summit Holdings, Inc. (JGS), the flagship of the Gokongwei Group, reported a turnaround with consolidated attributable net income surging to P5.1 billion last year from a net loss of P468 million in 2020. In a disclosure to the Philippine Stock Exchange, the firm said it remains on track to full
Universal Robina Corporation to acquire Malaysian biscuit company for MYR 1.93bn foodbev.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from foodbev.com Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR (Nov 26): Philippines' Universal Robina Corp (URC) is acquiring Munchy Food Industries for RM1.925 billion (or approximately 22.9 billion Php) on a cash-free and debt-free basis, to scale up its existing business in Malaysia and further increase its presence across the ASEAN region, while also improving overall profitability. URC via its subsidiary URC Snack Foods (Malaysia) Sdn Bhd (URC MY) entered into an agreement on Thursday (Nov 25) to acquire 100% equity interest in Crunchy Foods Sdn Bhd (CFSB) which fully owns Munchy Food Industries Sdn Bhd (MFI) and its subsidiary Munchworld Marketing Sdn Bhd (MWM) from private equity firm Crunchy Ltd.