Deals
Mondelez Hires Morgan Stanley to Study Tim Tam Bid
- Kelsen, Arnott’s Biscuits brands may fetch up to $3 billion
- Assets also draw Kraft Heinz, Pacific Equity Partners interest
Photographer: Kristian Dowling/Getty Images
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Mondelez International Inc. is working with Morgan Stanley as it studies a bid for Arnott’s Biscuits, the Australian maker of Tim Tams, and Danish butter-cookie producer Kelsen Group, people familiar with the matter said.
Australian buyout firm Pacific Equity Partners is also considering an offer for the Campbell Soup Co. brands, which may fetch as much as $3 billion, according to the people. The assets have separately drawn interest from other potential bidders including Kraft Heinz Co., the people said, asking not to be identified because the information is private.