KKR’s $2.2 Billion Acquisition Of Campbell Soup Company International Operations

Simpson Thacher and Allens represented KKR in its announced stock and asset purchase agreement under which KKR will acquire certain international operations from Campbell Soup Company (“Campbell”).

The transaction is valued at approximately $2.2 billion.

KKR will acquire Arnott’s (the iconic Australian biscuit brand and a major driver of Campbell International’s sales), Campbell’s simple meals and snacking brands in markets including Australia, New Zealand, Indonesia, Malaysia, Singapore, Hong Kong and Japan, and Campbell International’s manufacturing operations in Australia, Indonesia and Malaysia. Under the terms of the agreement, KKR and Campbell will enter into a long-term licensing agreement for the exclusive rights to use certain Campbell brands, including Campbell’s, Swanson, V8, Prego, Chunky and Campbell’s Real Stock, in Australia, New Zealand, Malaysia and other select markets in Asia Pacific, Europe, the Middle East and Africa.

The Simpson Thacher team working on the transaction included Kathryn King Sudol (Picture) and Janet K. Yu (M&A – New York); Ian Ho, Sandra Kister and Chen Zhang (M&A – Hong Kong); Adam Shapiro, Robert Meyer and Jaime Picano (Banking and Credit); Lori Lesser, Melanie Jolson and Elizabeth Gladstone (Intellectual Property); Katharine Moir, Sarah Katz and Abigail Hopper (Tax); Steven DeLott (Insurance); and Tristan Brown and Alyssa Ohanian (Executive Compensation & Employee Benefits).

The Allens team was composed by corporate partner Emin Altiparmak, Tom Story (Partner), Noah Obradovic (Managing Associate), Keegan Lopez (Senior Associate), Dixon Song (Associate), Andrew Lee (Lawyer) and Kye-Ren Cheong (Law Graduate). Intellectual Property & PTA partner Andrew Wiseman, Tommy Chen (Senior Associate), Kaelah Ford (former Senior Associate), Elliot Burton (Associate), Tiernan Christensen (Associate), Millie Grant (Lawyer) and Max Jones (Law Graduate). Technology, Media & Telecommunications partner Michael Morris, Jessica Selby (Managing Associate), Michael Anthony (Associate), Grace Walton (Associate), Tom Webster (Associate) and Hamish McHardy (Law Graduate). Real Estate partner Michael Graves, Lucy Woodruff (Senior Associate), Olivia Roslaniec (Associate), Avan Jussawalla (Senior Associate), Daniel Popple (Associate) and Maddy Ryan (Law Graduate). Employment partner Simon Dewberry and Brad White (Lawyer). Disputes & Investigations partner Rachel Nicolson, Dora Banyasz (Senior Associate) and Ellie Wyatt (Law Graduate). Environment & Planning partner Bill McCredie, Emily Johnstone (Senior Associate), David Thorpe (Senior Associate), Katherine McLellan (Associate) and Rae Mozejko (Associate). Competition partner Jacqueline Downes, Jennifer Bannan (Senior Associate) and Georgia Sands (Associate). Tax partner Joseph Power, Craig Milner (Partner) and Jay Prasad (Senior Associate). Projects & Development partner David Donnelly, Kanana Fujimori (Associate) and Helen Santamaria (Associate). Funds, Super & Wealth partner Geoff Sanders and Philip Marquet (Senior Associate).

Involved fees earner: Emin Altiparmak – Allens; Michael Anthony – Allens; Jennifer Bannan – Allens; Dora Banyasz – Allens; Elliot Burton – Allens; Tommy Chen – Allens; Kye-Ren Cheong – Allens; Tiernan Christensen – Allens; Simon Dewberry – Allens; David Donnelly – Allens; Jacqueline Downes – Allens; Kaelah Ford – Allens; Kanana Fujimori – Allens; Millie Grant – Allens; Michael Graves – Allens; Emily Johnstone – Allens; Max Jones – Allens; Avan Jussawalla – Allens; Andrew Lee – Allens; Keegan Lopez – Allens; Philip Marquet – Allens; Bill McCredie – Allens; Hamish McHardy – Allens; Katherine McLellan – Allens; Craig Milner – Allens; Michael Morris – Allens; Rae Mozejko – Allens; Rachel Nicolson – Allens; Noah Obradovic – Allens; Daniel Popple – Allens; Joseph Power – Allens; Jay Prasad – Allens; Olivia Roslaniec – Allens; Maddy Ryan – Allens; Geoff Sanders – Allens; Georgia Sands – Allens; Helen Santamaria – Allens; Jessica Selby – Allens; Dixon Song – Allens; Tom Story – Allens; David Thorpe – Allens; Grace Walton – Allens; Tom Webster – Allens; Brad White – Allens; Andrew Wiseman – Allens; Lucy Woodruff – Allens; Ellie Wyatt – Allens; Tristan Brown – Simpson Thacher & Bartlett; Steven DeLott – Simpson Thacher & Bartlett; Elizabeth Gladstone – Simpson Thacher & Bartlett; Ian Ho – Simpson Thacher & Bartlett; Abigail Hopper – Simpson Thacher & Bartlett; Melanie Jolson – Simpson Thacher & Bartlett; Sarah Katz – Simpson Thacher & Bartlett; Kathryn King Sudol – Simpson Thacher & Bartlett; Sandra Kister – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Robert Meyer – Simpson Thacher & Bartlett; Katharine Moir – Simpson Thacher & Bartlett; Alyssa Ohanian – Simpson Thacher & Bartlett; Jaime Picano – Simpson Thacher & Bartlett; Adam Shapiro – Simpson Thacher & Bartlett; Janet Yu – Simpson Thacher & Bartlett; Chen Zhang – Simpson Thacher & Bartlett;

Law Firms: Allens; Simpson Thacher & Bartlett;

Clients: KKR;