Campbell’s Is Close to Closing Deal on Arnott’s Brand
An Australian private equity firm is getting ready to offer a bid on Campbell’s international brands business. This division includes the popular Arnott’s cookie brand. Sources close to the deal say Pacific Equity Partners has been putting the final touches on its bid and is close to submitting the paperwork. Mondelez was connected to the division earlier this year but couldn’t reach a price agreement with Campbell’s. The food giant is seeking at least $3 billion for the international division.
If a deal comes to fruition, it would not be P.E.P.’s first foray into the food sector.