KKR and Campbell Soup Company Sign Definitive Agreement for Sale of Arnott’s and Certain Campbell International Operations for $2.2 Billion
- KKR to acquire portfolio that includes iconic Arnott’s biscuits and Campbell’s simple meals and snacking brands in markets including
Australia, New Zealand, Indonesia, Malaysia, Singapore, Hong Kongand Japan, and manufacturing operations in Australia, Indonesiaand Malaysia
- Investment to transition certain
Campbell Internationaloperations to a standalone company with access to significant capital and operational resources to support long-term growth and innovation
Under the terms of the agreement, KKR and Campbell will enter into a long-term licensing arrangement for the exclusive rights to use certain Campbell brands, including Campbell's, Swanson, V8, Prego, Chunky and Campbell'sReal Stock, in
KKR is making its investment primarily through its Core Investments strategy, which represents capital targeting longer-term opportunities. The Transaction is expected to close within the next six months, subject to customary closing conditions. Further details of the transaction are not disclosed.
KKR was advised by Jefferies, as its financial advisor, and
Campbell International’s operations include Campbell’s simple meals businesses in
Campbell (NYSE:CPB) is driven and inspired by our Purpose, “Real food that matters for life’s moments.” For generations, people have trusted Campbell to provide authentic, flavorful and affordable snacks, soups and simple meals, and beverages. Founded in 1869, Campbell has a heritage of giving back and acting as a good steward of the planet’s natural resources. The company is a member of the Standard and Poor’s 500 and the Dow Jones Sustainability Indexes. For more information, visit www.campbellsoupcompany.com or follow company news on Twitter via @CampbellSoupCo.
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about
Kristi Huller / Cara Major, +1 212-750-8300