KKR & Co completed the acquisition of Arnott's, the Australian snacks business, and certain of the international operations of Campbell Soup, an American processed food and snack company, for $2.2bn. “This was a thorough and complex process in which we considered many options. Our approach has resulted in agreements that we believe generate the greatest value from our international assets. By applying almost $3bn of divestiture net proceeds to reduce debt, Campbell’s balance sheet will be stronger and capable of supporting our plan to grow our focused and differentiated portfolio,” Mark Clouse, Campbell’s President, and CEO.