Arnott’s acquisitions to result in new enterprise unit: Good Meals Companions | 2021-02-09 – NewsEverything Meals

ArnottsProducts Lead

SYDNEY, AUSTRALIA — The Arnott’s Group has signed an settlement to amass 75% of Diver Meals, an Australian maker of cereals and snacks. Chris Diver, proprietor and managing director of Diver Meals, will proceed to personal 25% of the enterprise. Monetary phrases of the transaction weren’t disclosed.

As soon as the deal is finalized Arnott’s mentioned it plans to mix Diver Meals with Freedom Meals to launch a brand new enterprise division: Good Meals Companions. Arnott’s agreed to amass the cereal and snacks enterprise of Freedom Meals in December 2020. As a part of that transaction, Arnott’s will purchase cereal and snacks manufacturing services in Leeton and Darlington Level in New South Wales and in Dandenong in Victoria, in addition to all manufacturers related to the enterprise, together with Freedom Meals, Messy Monkeys, Heritage Mill, Arnold’s Farm and Barley+. The transaction doesn’t embrace the Crankt Protein model.

“The Arnott’s Group has grow to be the custodian of a 150-plus-year legacy of Australian meals manufacturing, and we have now made no secret of our want to construct on that legacy by increasing our operations domestically,” mentioned George Zoghbi, chief government officer of The Arnott’s Group. “Diver Meals presents a improbable strategic development alternative for us, with merchandise and functionality that may complement our current manufacturers whereas serving to to diversify our iconic product portfolio and drive our entry into new classes.

“Our intention is to create a brand new cereal and snacks division that may convey the Diver Meals and Freedom Meals companies collectively when the transactions are full.

“We’re at present working carefully with Chris on how greatest to combine their operations into The Arnott’s Group household and look ahead to sharing extra element about these thrilling plans when they’re finalized.”

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