Universal Robina Corp (URC) is selling its 21% stake, thereby diluting its majority position in the instant noodle manufacturing joint venture with Nissin Foods Asia Co. Ltd.
The JV, Nissin Universal Robina Corp (NURC) will see Nissin Foods Asia having a majority 70% stake, which will help the JV to accelerate its growth, as it benefits from Nissin Foods Asia’s global strengths in product innovation and brand-building in the noodles category.
URC will remain as the local operating partner in the Philippines, remaining deeply involved in day-to-day operations and contributing its market knowledge, strong route-to-market capabilities and execution excellence to sustain and enhance NURC’s competitive position.
In 1994, NURC was established as a joint venture with URC holding 51% majority stake while Nissin Foods Asia holding the remainder.
URC is one of the largest food and beverage companies in the Philippines, producing iconic brands such as Great Taste, C2 Cool & Clean, Piattos, Maxx candy and Cream-O cookies.
