URC takes full control of HURC

Largest listed food company Universal Robina Corp. (URC) will be taking full control of Hunt-Universal Robina Corp. (HURC) after buying the remaining shares of its business 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.

Nonetheless, URC said in a disclosure to the stock exchange that it will continue to manufacture and sell Swiss Miss Products under a trademark license agreement with ConAgra. /jpv