New Zealand snack food maker Griffin's Foods has been sold by
Australian private equity company Pacific Equity Partners
(PEP) to Universal Robina Corp of the Philippines for $700
The purchase by Universal Robina - one of Asia's biggest food
companies, is subject to Overseas Investment Office approval,
Griffin's said in a statement.
Under PEP's ownership, the company had invested over $180
million, creating two manufacturing centers based in Auckland
and acquiring the Nice & Natural business, Griffin's
The acquisition would provide Griffin's with a network of
consumers in the Philippines, Vietnam, Thailand, Indonesia,
Malaysia, Singapore, Hong Kong and China from which to drive
export growth, the company said.
Universal Robina is large branded food company that started
as a small, family-owned business and has successfully
expanded its markets offshore to become one of the largest
food and beverage companies in Asia. Its markets include the
Philippines, Vietnam, Thailand, Indonesia, Malaysia,
Singapore, Hong Kong and China.
- Jamie Gray, APNZ business reporter