Ferrero in talks to acquire Arnott’s biscuits

Ferrero is in talks to acquire Arnott’s Biscuits, the oldest Australian biscuit brand owned by US multinational Campbell Soup.

The Alba, Italy-based group has already signed a confidentiality agreement for the acquisition of Campbell International, the vehicle that controls Arnott’s, in a deal reportedly worth around €1.3 billion.

Arnott’s Biscuits is Australia’s largest biscuit producer with annual revenue of over €600 million and a company history dating back more than a century to 1847. However, Ferrero is not the only interested party, with Kraft Heinz, Mondelez and Pepsi also emerging as potential buyers.

The operation is part of the international acquisition strategy pursued by Giovanni Ferrero, which began in 2015 with the acquisition of British firm Thorntons for £156 million, followed by Fannie May, Ferrara Candy Company, Delacre and Oltan.

In January 2018, Ferrero took over Nestlé’s US confectionery business for $2.8 billion, making it the third largest confectioner operating in the US market.