As a $3 billion private equity sale for Campbell’s-owned Arnott’s steams closer with Pacific Equity Partners or KKR & Co, the Australian brand has been feverishly rolling out a raft of “meaningful innovation” to take on global rivals from Nestle and Mars to Mondelez and PepsiCo.

Arnott’s chief marketing officer for Asia-Pacific, David McNeil, would not comment on details of the sale to CMO Brief but outlined the strategic rationale for a frenzied program of innovation that has been under way at the company in the past 18 months.