Full circle: KWM helps food giant sell Arnott’s for $3.14bn

King & Wood Mallesons (KWM) has seen through Campbell Soup’s ownership of Arnott’s, having advised the food giant in its divestment of the Tim Tams maker to a private-equity firm.

KKR & Co has agreed to buy Australia’s largest biscuit maker and certain parts of Campbell’s international operations. Several reports say that the investor is paying US$2.2bn or about $3.14bn for the acquisition.

KWM told Australasian Lawyer that it acted on Campbell Soup’s initial takeover of Arnott’s way back in 1993, with now partner David Friedlander, who also worked on this most recent deal, advising on the initial transaction.

KWM, which worked alongside US firm Weil, Gotshal & Manges, fielded a team led by corporate partner Nicola Charlston and IP partner Cate Nagy. The team also included regulatory partner Sharon Henrick, senior associate Vineetha Veerakumar and Christopher Kok, and solicitor Ailsa Wallace.

The Sino-Australian giant said that the deal was inked last week after a competitive sale process that lasted nearly a year.

Allens, Simpson Thacher & Bartlett, and Jeffries advised KKR.