Arnott's Tim Tam biscuits are pictured on a supermarket shelf in Sydney, Australia, July 24, 2019.KKR & Co. said it is buying Campbell Soup Co.’s Australian snacks unit Arnott’s that will give it ownership of top-selling biscuit brands such as Tim Tam, in a deal local media reported was worth US$2.2-billion.
“The process to divest Arnott’s and the rest of our international operations is ongoing,” the spokeswoman for the U.S. food company said in a statement. Two years before that, Universal Robina paid US$470-million for New Zealand’s top snack maker Griffin’s Foods Ltd from Australian private equity firm Pacific Equity Partners .
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