New owner: Munchy Food Industries’ factory in Tongkang Pecah, Batu Pahat. CVC said its Asia Fund IV completed the purchase of a 100 stake in Munchy on June 8.
PETALING JAYA: Private equity firm CVC Capital Partners Ltd has acquired Munchy Food Industries Sdn Bhd as it plans to tap the snack-food maker’s strong export business and capitalise on South-East Asia’s economic growth.
In a statement on its website, the London-based CVC said its Asia Fund IV had completed the purchase of a 100% stake in Munchy on June 8, confirming an earlier news report by Bloomberg that the private equity firm had paid about US$250mil (RM998mil) for the business.
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