The Arnott’s Group has announced the acquisition of New Zealand based gourmet biscuit maker, 180degrees.
180degrees was founded in 2001 by three passionate New Zealand foodies who’ve transformed it into one of the largest premium biscuit and cracker brands in the country. Their products include a wide range of premium oat and seed crackers, cheese bites and lavosh.
Under the agreement, Arnott’s will acquire 100 percent of 180degrees, with completion expected in the coming days. The acquisition accelerates The Arnott’s Group’s entry into the premium cracker category.
The Arnott’s Group CEO George Zoghbi said the acquisition created an opportunity for The Group to strengthen and diversify its presence in New Zealand and support local business.
“We know there is a strong appetite in New Zealand for locally produced, premium, wholesome products,” he said.
“The acquisition allows us to invest in a rapidly growing market, and to continue to innovate by introducing new tastes and textures that complement our existing product range.
“Both Arnott’s and 180degrees are committed to creating delicious moments by producing products that focus on taste and integrity.”
180degrees Co-founder, Jill Seton said what started as a passion project founded around a shared love of travel and food has become a premium recognised business with a strong and loyal consumer base.
“It was important for us to partner with a company that shares our appreciation for legacy with a strong innovation approach,” she said.
“As an iconic and much-loved business with a rich history, we knew the team at Arnott’s would be just the right fit.”
“We are looking forward to working with The Arnott’s Group as we take the business to the next level.”
About The Arnott’s Group
The Arnott’s Group portfolio of brands continues the 155-year legacy of the Arnott family, employing approximately 3,500 people in markets across Asia Pacific. The Arnott’s Group is headquartered in Sydney, Australia with Arnott’s operations in Auckland, New Zealand and bakeries in Western Sydney, Brisbane, Adelaide and Indonesia. In addition, the portfolio includes Campbell’s products in Australia, Malaysia, Hong Kong and Japan, and manufacturing operations in Shepparton, Australia and Malaysia.
Originally published on fmcgbusiness.co.nz