The end of Pizza Shapes and Tim Tams? The icon of the Australian Arnott's cookie will be sold by its American owners for $ 2 BILLION
- Tim Tams and Shapes could soon disappear from Australian supermarkets
- Campbell Soup's international divisions are at stake, including Arnott & # 39; s
- Approximately $ 2 billion is the initial price for the iconic Australian Shapes manufacturers.
- Fresh food and the health conscious society have disrupted the food industry
Rosemary Cavallaro for Daily Mail Australia
Could the beloved Shapes and Tim Tams of Australia disappear soon from supermarkets?
After a three-month review, Campbell Soup Co. announced on Thursday it will sell its international and fresh food business, including the Australian icon Arnott & # 39; s.
The US food giant credited declining sales of soups and juices for the decision to end the 21-year relationship.
The beloved Shapes and Tim Tams of Australia could soon disappear from the shelves of supermarkets
Campbell's shares have been reduced by a third in the last three years and have fallen by two percent on Thursday afternoon.
Arnott & # 39; s, which was founded in 1906, it is expected that attract both private equity firms and corporate buyers with a projected price of approximately $ 2 billion.
The company produces some of the country's favorite snacks, such as TeeVee Snacks, Hundreds and Thousands, Tiny Teddy's, Iced Volvo's and Jatz.
Australia's favorite cookie company has employed more than 50,000 Australians during its operation over the past 150 years.
After a three-month review, Campbell Soup Co. announced on Thursday that it will sell its international and fresh food business, including the Australian icon Arnotts.
They produce products from all over Australia such as 85,000 tons of flour each year in places like Moree, Riverina and Darling Downs and 18,500 tons of sugar in North Queensland.
So who will buy the company that sells more than a million packages of Tim Tams each week?
American business tycoon and Kraft Heinz shareholder, Warren Buffett, closed the claims to be the projected buyer and, at the same time, commented in an interview that it is "very difficult". Offer a premium for a packaged food company.
The interruption of the food industry is due to the pressure of new food concepts and the increase of small brands, often healthier, such as cold pressed juices.
The shaking of the food industry is felt everywhere with the pressure of new food concepts and the rise of small, often healthier brands such as cold-pressed juices.
Both food companies have been reporting declines as they struggle to attract modern consumers, who actively seek more natural and healthier foods and spend more time in the aisles of fresh foods.
THE HISTORY OF ARNOTT
1865 – Small bakery open in Newcastle, which supplies bread, cakes and cookies
1875 – The first factory opens
1882 – Cookie with milk and arrowroot arrived at the shelves
1888 – The parrot became the mascot of the iconic brand and began to appear on the logo and packaging
1956 – Fusion! Australian Biscuit Company Pty Ltd was created
1963 – Tim Tams was created and Australia never looked back
1964 – The forms were introduced in the tasty cookie market
1992 – Campbell's buy a 33 percent stake in Arnott & # 39; s
1997 – Campbell & # 39; s purchase full control of Arnott & # 39; s
2003 – Arnott acquired Wagon Wheels from George Weston Foods
2004 – The Arnott Foundation was established
2018 – Campbell Soup announces the sale of Arnott & # 39; s