Campbell Soup Co. said Dec. 23 the company completed the sale of Arnott's Biscuits Ltd. and certain international operations to KKR & Co. Inc.
The Australian cookie brand was sold to the private equity firm for approximately $2.2 billion in cash.
Campbell has now completed the sale of its entire international division, including Kelsen Group A/S, for approximately $2.5 billion.
The New Jersey-based food and beverage producer has also concluded the divestiture of its refrigerated-foods business.
Campbell will use the net proceeds of approximately $3 billion from the sale of the international operations and refrigerated-foods business to reduce its debt.