Overview
- The National Reconstruction Fund Corporation committed $45 million as part of The Arnott’s Group’s $1.7–$1.75 billion debt refinancing arranged by KKR Capital Markets, Morgan Stanley and MUFG.
- Officials say the financing will upgrade Australian manufacturing capacity and support plans to take iconic brands such as Tim Tam to more international markets.
- Arnott’s employs more than 2,500 people in Australia, and Tim Tam sales have topped five million packs in the UK since listings expanded in April 2024.
- Arnott’s has not been Australian‑owned since 1997 and was acquired by KKR in 2019, prompting questions about using public funds for a foreign‑owned company.
- The $15 billion NRFC targets returns above government bonds and has recently backed Patties Food Group and Intellihub, with little detail disclosed on expected returns or the necessity of its support for Arnott’s refinancing.