KKR: completes acquisition of Arnott brand
(CercleFinance.com) - Campbell said on Monday it had completed the sale of its biscuit brand Arnott and certain of its international businesses to private equity giant, effectively ending a divestiture process that started in 2018.
With this 2.2 billion dollars cash transaction, Campbell has now completed the sale of its entire international division, for an aggregate price of approximately 2.5 billion dollars.
Campbell plans to use the proceeds to cut its debt.
Acquired by Campbell in 1997, the Arnott brand is based in Sydney with operations in Australia and Indonesia.
The other international operations that have been sold include Campbell's simple meals businesses in Australia, Malaysia, Hong Kong and Japan, and manufacturing in Australia and Malaysia.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
With this 2.2 billion dollars cash transaction, Campbell has now completed the sale of its entire international division, for an aggregate price of approximately 2.5 billion dollars.
Campbell plans to use the proceeds to cut its debt.
Acquired by Campbell in 1997, the Arnott brand is based in Sydney with operations in Australia and Indonesia.
The other international operations that have been sold include Campbell's simple meals businesses in Australia, Malaysia, Hong Kong and Japan, and manufacturing in Australia and Malaysia.
Copyright (c) 2019 CercleFinance.com. All rights reserved.