URC sells 40% stake in Oceana unit to European giant Intersnack
Universal Robina Corp. (URC) is selling its 40% stake in URC Oceania Co. Ltd. Intersnack group, one of Europe’s leading savory snack producer.
URC Oceania is the consolidated businesses of the Gokongwei-owned snack manufacturer in Australia and New Zealand.
The consideration for the transaction will be a mix of cash and shares of Yarra Valley Snack Foods Pty. Ltd, Intersnack’s natural snack food unit in Australia.
Leveraging on URC and Intersnack’s know-how from their respective markets will yield best practices in manufacturing, supply chain and sustainability practices, setting the groundwork for an even larger and more efficient Oceania operations
Through this transaction, URC monetizes some of the synergies it has generated from its early investments in Australia and New Zealand, while still retaining control and its ability to further create value within and beyond ANZ.