Arnott’s to acquire a 75% stake in Diver Foods for $80m.

Arnott’s, a provider of food products, agreed to acquire a 75% stake in Diver Foods, a manufacturer of health oriented FMCG's, specialising in snack foods and breakfast cereal/muesli products, for $80m. "The Arnott’s Group has become the custodian of a 150-plus-year legacy of Australian food manufacturing, and we have made no secret of our desire to build on that legacy by expanding our operations locally. Diver Foods presents a fantastic strategic growth opportunity for us, with products and capability that will complement our existing brands while helping to diversify our iconic product portfolio and drive our entry into new categories," George Zoghbi, Arnott’s CEO.