Sector News

Mondelez talks for Arnott’s cookie brands at an impasse

April 8, 2019
Food & Drink

A potential move by Mondelez International, Inc. to acquire the Arnott’s cookie and cracker brands from Campbell Soup Co. has reached a stalemate, according to a report from CNBC. The news comes a little more than a week after various news outlets reported that Mondelez was negotiating final terms for the acquisition of the business, which includes the Australian cookie brand Arnott’s and Danish baked snacks maker Kelsen Group.

Citing people familiar with the negotiations, CNBC said there now appears to be a hang-up regarding a possible transaction price, with the belief that Mondelez’s offer is falling short of Campbell Soup’s roughly $3 billion price expectation.

CNBC’s sources said it is common for there to be last-minute negotiations over price.

In addition to Mondelez, other companies that have been mentioned as possible suitors for the Arnott’s cookie and cracker brands include Ferrero Group, Kraft Heinz Co. and a couple consortiums backed by private equity firms. Ferrero’s interest in the business would appear to be on the backburner after the company last week agreed to acquire Kellogg’s cookie, fruit snack, pie crust and ice cream cone business for $1.3 billion.

By Eric Schroeder

Source: Food Business News

comments closed

Related News

January 23, 2022

IFF appoints Frank Clyburn as CEO

Food & Drink

International Flavors & Fragrances (IFF) has announced the appointment of Frank Clyburn as CEO and member of the board of directors, effective 14 February 2022. Clyburn, who will step down from his position as executive VP and president of human health at Merck & Co, succeeds current IFF CEO Andreas Fibig

January 23, 2022

Jack Link’s expands Peperami range with new chorizo five-packs

Food & Drink

Jack Link’s-owned meat snacking brand Peperami has launched new chorizo five-packs to add to its extensive snack portfolio. The new chorizo sticks are made with 100% pork, packed with protein, contain 99 calories and are unpasteurised to maintain a fuller flavour — providing a shelf life of over six months.

January 23, 2022

More beer in the glass with physics

Food & Drink

While foam is certainly desirable in the bathtub or on beer, preventing foam – for example in industrial processes – is a much-discussed topic. A team of researchers at the Max Planck Institute for Polymer Research has now shown that so-called “superamphiphobic surfaces” can be used to prevent foaming.

Send this to a friend