Largest listed food company Universal Robina Corp. (URC) will be taking full control of Hunt-Universal Robina Corp., subsidiary of the famous pork and beans brand “Hunt’s,” after buying the remaining shares of its joint venture partner, ConAgra Grocery Products Company, LLC.
The Gokongwei-led company will pay ConAgra about P3.1 million for its 50-percent share in the joint venture, thereby allowing URC to integrate the iconic brand into its Philippine business portfolio.
Not included in the transaction is URC’s agreement with US-based ConAgra to manufacture and sell Swiss Miss Products. In a disclosure to the stock exchange, it clarified that that part of the business would remain.
Aside from the famous pork and beans, other products under the Hunt’s brand include tomato-based spaghetti sauce, tomato sauce and marinade sauce.