Street Talk

KKR taste tests divestments at Tim Tam-maker Arnott’s

Sarah Thompson, Kanika Sood and Emma Rapaport

Feb 9, 2025 – 1.13pm

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Five years after American private capital giant KKR dished out $3.2 billion to acquire Australia’s No.1 biscuit maker Arnott’s, its dealmakers are ready to adjust the recipe of running its Asian arm.

Street Talk can reveal KKR’s local PE boss David Lang is taking advice from Swiss bank UBS around The Arnott’s Group’s Asian business, which sells consumer staples like pastas, sauces and cooking stock. The sale preparations are at a preliminary stage, sources said.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.