M&A Deal Summary

KKR Acquires Arnott’s

On August 2, 2019, private equity firm KKR acquired food company Arnott’s from Campbell s for 2.2B USD

Acquisition Highlights
  • This is KKR’s 14th transaction in the Food sector.
  • This is KKR’s 44th largest (disclosed) transaction.
  • This is KKR’s 10th transaction in Australia.

M&A Deal Summary

Date 2019-08-02
Target Arnott’s
Sector Food
Buyer(s) KKR
Sellers(s) Campbell s
Deal Type Divestiture
Deal Value 2.2B USD

Target

Arnott’s

North Strathfield, Australia
Arnott's is a portfolio of snack and meal brands comprising Australian biscuit brand Arnott's and Campbell Soup brands in the Asia Pacific region. Arnott’s is based in North Strathfield, Australia.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 314 of 484
Sector (Food) 14 of 16
Type (Divestiture) 33 of 53
Country (Australia) 10 of 15
Year (2019) 19 of 33
Size (of disclosed) 44 of 104
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-26 Xingsheng Youxuan

Changsha City, China

Xingsheng Youxuan is a community-based group eCommerce company with a presence in tier 2 and below cities of China. Xingsheng Youxuan was established in 2018 and is based in Changsha City, China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-04 Unzer

Heidelberg, Germany

Unzer is a full-service PSP that facilitates payment acceptance on behalf of online merchants. The platform is 100% proprietary, serving more than 14,500 primarily online businesses across the DACH and Benelux regions, and processes transactions across more than 200 payment methods, covering online, mobile and point-of-sale channels. Unzer was founded in 2003 and is based in Heidelberg, Germany.

Buy -

Seller(S) 1

SELLER

Campbell s

Camden, New Jersey, United States

Category Company
Founded 1869
Sector Food
Employees14,500
Revenue 9.4B USD (2023)
DESCRIPTION
Entrance to Campbell Soup Co.'s corporate headquarters in Camden, New Jersey.
Entrance to Campbell Soup Co.'s corporate headquarters in Camden, New Jersey.

Campbell's is an American producer of canned soups and related products. Campbell's products are sold in 120 countries around the world. Campbell's was incorporated in 1869 and is based in Camden, New Jersey.


DEAL STATS #
Overall 9 of 14
Sector (Food) 7 of 12
Type (Divestiture) 9 of 14
Country (Australia) 1 of 1
Year (2019) 4 of 6
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-12 Kelsen Group A/S

Nr. Snede, Denmark

Kelsen Group A/S is a producer of quality baked snacks that are sold in 85 countries around the world. Kelsen Group A/S primary brands include Kjeldsens and Royal Dansk. Kelsen has established distribution networks in markets in Asia, South America, the Middle East, and Africa as well as the United States. Kelsen Group A/S is a market leader in the assortment segment of the sweet biscuits category in China and Hong Kong, where growth in sweet biscuits is outpacing the growth of the $60 billion global sweet biscuits market.

Sell $300M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-02 Kettle Foods

Norfolk, United Kingdom

Kettle Foods Limited makes hand-cooked crisps, popcorn, rice snacks, and vegetable-based chips. Kettle Foods Ltd. primary brands are KETTLE Chips and Metcalfe’s skinny popcorn.

Sell -