Campbell to Sell Arnott's Papua New Guinea to Goodman Fielder
Arnott's Papua New Guinea manufactures a range of biscuit, cereal, and noodle products under brands including "Paradise,""Morobeen," "Arrow," and "Gold Nuggets." The sale includes two manufacturing plants and warehouses in Port Moresby and Lae.
28/02/07 Campbell Soup Company has announced that its wholly owned subsidiary, Arnott's Limited, has entered into an agreement to sell its Papua New Guinea operations to Goodman Fielder Limited.
In line with Campbell's global strategy, the sale will allow Arnott's to strengthen its focus on key growth markets in the Asia Pacific region including Australia, New Zealand, and Indonesia.
The sale, which is subject to regulatory approval and other pre-conditions, is anticipated to be completed within the next few months. Financial terms were not disclosed. The transaction is not expected to have a material financial impact on Campbell.
Arnott's Papua New Guinea manufactures a range of biscuit, cereal, and noodle products under brands including "Paradise," "Morobeen," "Arrow," and "Gold Nuggets." The sale includes two manufacturing plants and warehouses in Port Moresby and Lae.
