Arnott's Gobbled Up In Multi-Billion-Dollar Deal
U.S. food giant Campbell's Soup has reportedly offloaded iconic Australian biscuit company Arnott's as part of the $A3.14 billion sale of its international arm.
Campbell's had flagged selling the Tim Tams, Mint Slice and Monte Carlo maker in August last year, 21 years after purchasing the brand.
Both the Australian Financial Review and The Australian newspapers have now reported that Campbell's has struck a deal overnight with fellow US firm Kohlberg Kravis Roberts for the Campbell International division, which includes the biscuit manufacturer and all Campbell's soup sold in Australia.
More to come.