King & Wood Mallesons has advised Consolidated Snacks Pty Ltd on its acquisition by listed Philippines company, Universal Robina Corporation (PRC: URC) for A$600m.

Consolidated Snacks is the holding company of the partnership which operates Snack Brands Australia. Snack Brands manufactures and sells some of Australia’s most loved snack food products from its base in Sydney.

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

The KWM team was led by partner Ros Anderson, supported by 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.

The acquisition is subject to approval by the Foreign Investment Review Board.

Commenting on the deal, KWM partner Ros Anderson said, “We are delighted to act for Consolidated Snacks on this important deal. The cross-border acquisition will assist the business in taking Australian manufactured products into additional Asian markets.”