KKR & Co., Inc., the New York-based private equity business, has emerged as the victorious bidder for remaining assets in the International division of Campbell Soup Co., according to a July 24 report in the Australian Financial Review.
In an auction, KKR beat out another private equity group, Pacific Equity Partners, Sydney, Australia, the Financial Review said.
Included in the International division are the Arnott’s biscuits business in Australia and Asia Pacific, the simple meals and shelf-stable beverages business in Australia and Asia Pacific, and the business in Latin America.
Arnott’s sells cookies and crackers under Arnott’s and TimTam brands. The company has plants in Australia, New Zealand and Singapore.
The Financial Review said KKR will pay $2.2 billion for the businesses it will acquire.
In 2018, Campbell Soup generated a total of $622 million in sales in Australia of the company’s $8,685 million total. Countries other than the United States and Australia generated $1,031 million in sales in 2018.
The totals include $157 million in sales of Kelsen Group products, acquired by Campbell Soup in 2013. Kelsen which operates plants in Denmark, South Africa, China, Honk Kong and the United States, manufactures cookies that are sold in 85 countries around the world. Earlier in July, it was announced that Kelsen would be acquired for $300 million by a holding company affiliated with the Ferrero Group.
By Josh Sosland
Source: Food Business News
Danone has appointed Carla Hilhorst to the newly created position of senior vice president of research and innovation categories and zones, as the company looks to make science the heart of its business. Hilhorst, who brings over 30 years of experience in research and innovation, will report directly to Isabelle Esser, Danone’s chief research, innovation, quality and food safety officer.
The move, part of Pernod Ricard’s strategy to enhance its premiumisation efforts, will allow the company to focus more resources on its portfolio of premium international spirits and champagne brands that drive the growth of its business. This decision aligns with the company’s commitment to delivering sustainable value for shareholders, employees, clients and partners.
Schai – who is the current CEO of Swiss chocolate company Lindt & Sprüngli’s Australian operation – has previously worked with Aryzta from 2015-2018, where he served in roles including managing director for Asia Pacific and global strategic business lead (McDonald’s). The fast-food giant McDonald’s is one of Aryzta’s significant clients.
