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Campbell Completes Sale of Arnott’s and Certain of Campbell’s International Operations to KKR for Approximately 2.2B

Campbell Completes Sale of Arnott’s and Certain of Campbell’s International Operations to KKR for Approximately 2.2B


CAMDEN, NJ
Sunday, December 29th, 2019

Back in July, we reported that Campbell had completed the sale of the Kelsen Group for $300 million. The company recently announced the completion of another sale, divesting Arnott’s and Campbell’s International operations. These assets were acquired by KKR for roughly $2.2 billion in cash, subject to customary adjustments. With this transaction, Campbell has now completed the sale of its entire Campbell International division for an aggregate price of approximately $2.5 billion.

According to a press release, Arnott’s was acquired by Campbell in 1997. With regional headquarters based in Sydney and operations in Western Sydney, Brisbane, Adelaide, Australia, and Bekasi, Indonesia, the company has managed to build an international presence. Campbell’s International operations include Campbell’s simple meals businesses in Australia, Malaysia, Hong Kong, and Japan, and manufacturing in Australia and Malaysia.

Arnott’s and Campbell’s International operations were acquired by KKR for roughly $2.2 billion in cash, subject to customary adjustments (Photo Credit: Arnott's)

Campbell and KKR have entered into a long-term licensing arrangement for the exclusive rights to use certain Campbell brands. This includes Campbell's, Swanson, V8, Prego, Chunky, and Campbell's Real Stock in Australia, New Zealand, Malaysia, and other select markets in Asia, Europe, the Middle East, and Africa.

The company announced this divestiture process, which is finally complete, back in August of 2018. In total, the company divested the Campbell International and Campbell Fresh divisions and also sold its European Chips business. Campbell is now focused on its two core North American businesses: Snacks and Meals & Beverages. The company will continue to use the aggregate net proceeds of approximately $3 billion from divestitures to reduce debt.

Congratulations to Campbell on the finalization of this process!

Campbell Soup Company
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