Campbell Soup Co. has agreed to sell Arnott's biscuits, an iconic biscuit brand in Australia, to private equity firm KKR. Photo: TY Lim/Shutterstock.comKWM, Weil, Simpson Thacher and Allens Advise on Campbell Soup Biscuit Sale to KKR
The deal involves KKR acquiring Arnott's Biscuits, an iconic Biscuit brand in Australia, as well as Campbell's simple meals and snacking brands and its manufacturing operations in several markets.
August 07, 2019 at 03:22 PM
2 minute read
King & Wood Mallesons and Weil, Gotshal & Manges advised Campbell Soup Company on the $2.2 billion sale of Australia's Arnott's Biscuits and other Campbell's international operations to international private equity firm KKR, while Simpson Thacher & Bartlett and Linklaters-aligned Allens advised KKR.
KWM has a longstanding relationship with Campbell Soup, having first advised Campbell on its initial takeover offer of Arnott's in 1993.
Working in conjunction with Weil, the KWM team was led by partners Nicola Charlston and Cate Nagy, together with partners David Friedlander and Sharon Henrick.
The Simpson Thacher team working on the transaction included Kathryn King Sudol and Janet K. Yu in New York; and Ian Ho, Sandra Kister and Chen Zhang in Hong Kong.
The deal involves KKR acquiring Arnott's, an iconic Australian biscuit brand and a major driver of Campbell International's sales, and Campbell's simple meals and snacking brands in several markets, including Australia, New Zealand, Indonesia, Malaysia, Singapore, Hong Kong and Japan. In addition, KKR is acquiring Campbell International's manufacturing operations in Australia, Indonesia and Malaysia, Simpson Thatcher said in a statement.
Definitive documentation for the sale was signed late last week, after a competitive sale process lasting nearly 12 months.
The sale follows last month's announcement by Campbell Soup regarding the sale of its Danish snack producer, Kelsen Group, to a Ferraro-affiliated company.
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