Monday 22 October
Powered by Ajaxy
Sep 28, 2016 @ 15:16

Gokongwei food firm taps 4 banks for Snackbrands acquisition loan


Universal Robina Corp. plans to secure a A$500 million loan from a syndicate of banks to partly fund the purchase of Australia’s snack maker Consolidated Snacks Pty Ltd.

The food manufacturing arm of Bilyonaryo John Gokongwei’s JG Summit Holdings Inc. has mandated
ANZ, Citi, SMBC and StanChart for a five year loan.

Consolidated Snacks, through Snackbrands, is the second largest player in salty snacks with a total market share of close tob 30 percent. It has a wide portfolio of chips including iconic brands like Kettles, Thins, CC’s and Cheezels.

The A$600 million purchase is expected to close on Sept. 30.

URC has been on an acquisition binge in the past three years due to intensifying competition in the Asia Pacific region as a result of the lifting of trade barriers.

Please follow and like us:

Tags: , , , , , , , , , , , , , ,

Related Stories
Universal Robina Corp., the food and beverage unit of taipan John Gokongwei, is taking full
Japanese snackgiant Calbee is pulling out of the Philippines as its joint venture with Gokongwei-led
Roxas Holdings Inc., which is majority owned by the First Pacific Group of Hong Kong,
Universal Robina Corp. reported a 23.1 percent drop in net income in the first half


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.