date:Jul 22, 2014
Philippine snacks and beverage manufacturer Universal Robina Corp is buying New Zealand rival Griffin's Foods Ltd from Australia's Pacific Equity Partners (PEP) for NZ$700 million ($609 million), continuing a global rush to buy Australasian food companies.
In a statement, Universal Robina President and Chief Executive Lance Gokongwei said New Zealand is a country trusted worldwide in having high credibility when it comes to food quality, safety and authenticity.
Universal, a unit of Philippine