KKR Selects Cookie Manufacturer "Tim Tam" for $ 2.2 Billion

Private equity group KKR has agreed to acquire $ 2.2 billion worth of international activities from Campbell Soup Company, which will strengthen its presence in the Asia food and retail market. -Peaceful.

KKR, based in New York, said Friday in a statement that he had signed a share purchase agreement with Campbell for the badets of his international division, including Arnott's Biscuits , the Australian snack food maker aged 150 and over known Tim Tam Cookies.

Campbell's international division also includes other snacks and prepared foods in markets such as Australia, New Zealand, Indonesia, Japan and other parts of Asia. KKR will also take over Campbell's manufacturing facilities in Australia, Indonesia and Malaysia.

The acquisition was widely reported at the end of July, but spokespeople for KKR and Campbell have not responded to requests for comment from the time.

The agreement also includes a long-term license agreement that will give KKR exclusive marketing rights to Campbell brands, such as Campbell's Soup, in certain markets in Asia, Europe, the Middle East and Africa. KKR said the closure should take place in the next six months, without giving more details about the deal.

"Campbell International represents a unique portfolio of iconic brands known and valued by consumers in Australia and around the world," said David Lang, partner of KKR's Australian sector.

"We are privileged and excited to have the opportunity to invest and grow Arnott as an independent company in Australia, and to further develop Campbell's trusted brands throughout the Asian market," he said. he adds.

Campbell had been looking for a buyer for Arnott for some time. Last year, the company launched a strategic review after an unsuccessful attempt to enter the fresh produce market, which led its former chief executive to resign, as part of a larger effort aimed at streamline its portfolio. In February, Campbell announced the sale of a division and a refrigeration plant part of its Campbell Fresh division.

Arnott's was acquired by Campbell in 1997.