From the Tan family’s small manufacturing base in a quiet Malaysian town, Munchy’s has grown over 30 years to become one of Southeast-Asia’s favourite biscuit brands, with a diverse product range that appeals to every taste.
Growing consumers’ appetite for a well-loved Asian brand
Growing consumers’ appetite for a well-loved Asian brand
When CVC Asia IV acquired 100% of Munchy’s in 2018, the business was well-positioned for additional value creation. With market-leading SKUs and a strong track record of product innovation, it presented attractive opportunities to expand the Munchy’s footprint and enhance its robust business and marketing practices, including a comprehensive ESG strategy.
Together, the partnership achieved:
- An expanded product range with a ‘flavour partition’ strategy and a boost for Munchy’s top 10 sellers through improved distribution and in-store promotion.
- Increased market penetration and sales in key Southeast-Asia territories, including Indonesia, the Philippines, Singapore and, significantly, China.
- Improved efficiencies in non-commercial spend through the introduction of a ‘Fast and Agile’ culture.
- Using CVC’s global and regional experience, the implementation of a comprehensive ESG programme: international industry certifications including Sustainable Palm Oil certification; solar panel installations; environmental performance tracking; anti-corruption training; and, gender diversity initiatives. Munchy’s achieved a Silver EcoVadis rating in 2020 and won HKVCA’s ESG Award of Excellence in 2021.
I would like to thank CVC for their expertise and support over the last three plus years. Personally I learned a lot from our partners at CVC and together we have positioned the business well for its next phase of growth. The future looks really bright!
Rodney Wong CEO, Munchy’s
Overcoming the business challenges of COVID-19 while growing market share
When the global pandemic affected supply lines, retail outlets and manufacturing and distribution capacity, CVC worked closely with Munchy’s to mitigate the business impact. This included re-routing shipments and simplifying production methods and operational complexities, enabling the company to increase market share.
The right ingredients for the future
After three and a half years of CVC ownership, Munchy’s demonstrated a strong growth trajectory and significantly increased profitability. Its market presence in Southeast-Asia and continued enhancements to its product lines made it an attractive strategic fit for one of the Philippines’ largest branded food and beverage groups. In 2021, URC acquired Munchy’s in a new partnership to enhance its international product portfolio.