Mondelez International Inc. is reportedly in advanced talks to acquire Campbell Soup Co.'s international cookie business, according to people familiar with the matter, reports Crain's Chicago Business. Mondelez is allegedly negotiating final terms to purchase Arnott's Biscuits and Kelsen Group for $2.5 billion.
Arnott's Biscuits, the Australian maker of Tim Tam cookies, currently employs about 2,400 staff in Australia and several thousand people across Asia Pacific. Kelsen Group owns Royal Dansk butter cookies and Denmark's Kjeldsens.
No final agreements have been reached, and talks could fall apart or another buyer could emerge, according to the sources. Ferrero SpA and a consortium backed by KKR & Co. are said to be among suitors that expressed interest earlier in the process. Full Story
Related: Mondelez Partners with Nonprofit Business Incubator; Mondelez Takes Minority Stake in Prebiotic Foods Startup.
from Industry Operations https://ift.tt/2I1wW9c
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