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Australian snack food giant acquired

Australian snack food giant acquired

Ros Anderson

Two firms have advised on the cross-border acquisition of an Australian snack food retailer by a listed Philippines company.

Firms: King & Wood Mallesons (Consolidated Snacks Pty Ltd); Mayne Wetherell (Universal Robina Corporation)

Deal: Universal Robina Corporation has acquired Consolidated Snacks Pty Ltd.

Value: $600 million

Area: M&A

Key players: The KWM team was led by partner Ros Anderson (pictured) with assistance from senior associate Clifford Sandler and solicitors Nick Ferrari and Harsha Garikapati.

KWM partner Justin Cherrington advised Consolidated Snacks on all tax aspects of the deal. He was supported by special counsel Justin Rossetto and solicitor Anastasia Kozyreva.

Deal significance: Consolidated Snacks is the holding company of the partnership that operates Snack Brands Australia.

Snack Brands manufactures and sells some of Australia’s best-known food products from its base in Sydney. Its products include CC’s, Thins, Kettle and Cheezels.

Universal Robina Corporation (URC) is one of the largest branded consumer food and beverage product companies in the Philippines.

“We are delighted to act for Consolidated Snacks on this important deal,” said KWM partner Ros Anderson.

“The cross-border acquisition will assist the business in taking Australian manufactured products into additional Asian markets.”

 

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