Australian media today (24 June) reported Campbell's Soup Co has sold Arnott's for US$2.2 billion to global buyout firm, KKR.
The deal allegedly took place overnight and involves the entire Campbell International division, which includes Campbell’s soup sold in Australia.
A Campbell's Soup Co spokesperson told Food & Drink Business (9:30am), "Arnott's has not been sold". They said: "The process to divest Arnott's and the rest of our international operations is ongoing. We do not comment on rumour and speculation."
UPDATED 10:30am
Meanwhile, a spokesperson for KKR told F&DB "I can confirm that KKR’s offer for Arnott’s was accepted by Campbell’s late last night". They were not in a position to comment on the price.
mtc
