Universal Robina to acquire Munchy Food from CVC Capital for $453m.

Universal Robina, a consumer food and beverage product company, agreed to acquire Munchy Food, a snack food manufacturer, from CVC Capital, a private equity and investment advisory firm, for $453m. "URC is delighted to announce the acquisition of Munchy's which will add immediate value to our international product portfolio, and scale up our Malaysian market position to leadership in the Biscuits category. Munchy's, with its strong brands, talented organization, and operational excellence, is a great strategic fit with URC. Together, we will be able to further expand the footprint of URC and Munchy's brands and unlock growth synergies in Malaysia as well as across the ASEAN region," Irwin Lee, Universal Robina President and CEO.