Ferrero still in race for Arnott's
As the deadline for submission of bids approaches, Ferrero is vying with Mondelez and a consortium comprising US-based private equity firms KKR and Bain Capital for the acquisition of Australia’s Arnott’s Biscuits, owned by Campbell.
As reported in the Australian Financial Review, binding offers from the bidders left in the race are due by 20 March. Arnott’s has annual revenue of more than €600 million and total assets estimated at around AUD 2 billion.
The deal is expected to be worth €2.6 billion.
Image credits: Ferrero
