KKR’s dealmakers have returned from the holidays raring to go for Kraft Heinz’s Australian business, after getting cosy with the American multinational last year.Gabby Jones
Sources said it was early days as far as a potential deal was concerned, and there was a long way to go before KKR would be serious about getting a set of best price and terms. Its Australian history goes as far back as 1880s, when Heinz products were imported for American miners. It started local production in 1935, making and bottling horseradish out of a factory in Victoria.
The private equity investor already owns Tim Tim owner, Arnott’s, picking it up in a $3.2 billion deal from Campbell Soup Company, that also included Campbell’s Australian business.
Didn't Heinz shut down it's Victorian factory , sack all the workers and shift production to NZ ? Didn't Kraft flog Vegemite and Peanut Butter to Bega and then try and reclaim the IP What assets ?