Biscuit makers
Established in 1865 in Newcastle, NSW. Became a wholly-owned subsidiary of US food giant Campbell Soup Company in 1997. 99 percent of their products sold in Australia are manufactured in Australia. In 2019 Campbell Soup Co sold its international business arm to private equity firm KKR, which included Campbell Soups in Australia and Arnotts Biscuits. In 2021 KKR-backed Arnott's acquired Kiwi biscuit maker 180 Degrees, Freedom Foods' cereals and snacks division, and a 75% stake in Australian cereal and snacking manufacturer Diver Foods.


Owned USA
Rating F
About the Ratings

Company Ownership

Arnott's Biscuits Ltd
Kohlberg Kravis Roberts & Co LP
owns 100% of Arnott's Biscuits Ltd
Private equity firm
One of the world's largest private equity firms. Listed on the New York Stock Exchange in 2010. Acquired Unilever's spreads business in 2017 for 6.83bn euros. Acquired Campbell Soup Co's international operations (including Arnott's) in 2019.

Company Assessment

Arnott's Biscuits Ltd
This company received the highest packaging performance level of 5 (Beyond Best Practice) in its 2024 APCO Annual Report. Australian Packaging Covenant Organisation (APCO) is a not-for-profit organisation leading the development of a circular economy for packaging in Australia. Each year, APCO Members are required to submit an APCO Annual Report and Action Plan, which includes an overall performance level from 1 (Getting Started) to 5 (Beyond Best Practice).
Source: APCO (2024)
The PalmOil Scan app, produced by the World Association of Zoos and Aquariums (WAZA), rates companies on their commitment to sourcing sustainable palm oil. Companies are scored on their use of certified sustainable palm oil (CSPO), commitment to sourcing CSPO, on-the-ground conservation action, and membership to the RSPO. Companies can earn a rating of Excellent, Good, Poor or No Commitment. This company is rated "Good" (retrieved 18 Nov 2023).
Source: WAZA (2023)
Greenpeace's Reenergise campaign ranks Australia's biggest electricity using companies on their commitments and actions regarding renewable energy use. This company has: not committed to powering their operations by 100% renewable electricity by 2030; not signed a power purchase agreement (PPA) to buy power from a wind or solar project; not invested in on-site solar.
The 2024 WWF Palm Oil Buyers Scorecard evaluates the progress and performance of 285 major retailers and manufacturer companies, focusing on actions companies have taken to ensure their own palm oil supply chain is sustainable and free of deforestation, natural ecosystem conversion, and human rights abuse. This company failed to respond to WWF's requests for information.
Named and shamed in the 2014 CHOICE Shonky Awards. Arnott's peanut butter flavoured Tim Tam earned an award, because, according to Choice, it contained no peanuts (with paprika being a surprising inclusion) and because the pack contained fewer biscuits and weighed 35g less, despite maintaining the same price and package size.
Named and shamed in the 2015 CHOICE Shonky Awards for the "school canteen - meets amber guidelines" claim emblazoned on packs of Arnott's Tiny Teddies. Arnott's did the approving all on its own, despite the fact that Tiny Teddies wouldn't pass the National Healthy School Canteen guidelines.
In 2015 the ACCC ordered this company to pay penalties totalling $51,000 for alleged misleading claims about the saturated fat content of its Shapes Light & Crispy product. Arnott's also provided a court enforceable undertaking to the ACCC.
Source: ACCC (2015)
Some, but not necessarily all, of this company's products are palm oil free, or contain segregated certified sustainable palm oil (CSPO). For more details, follow the link to see Borneo Orangutan Survival Australia's list of products which manufacturers have told them are palm oil free or contain segregated certified sustainable palm oil.
Arnott's announced on 29 Oct 2010 that it will source ethical cocoa that has not been made with the use of child labour for all of its chocolate-based products, including the iconic Tim Tam biscuit, after being the target of a public campaign by World Vision earlier in the year.
This company is a signatory to the Responsible Children's Marketing Initiative (RCMI), which is managed by the Australian Food & Grocery Council and covers products found in retail outlets. Companies that have signed up to the initiative commit to: only advertising healthier choices to children and encouraging a healthy lifestyle through good diet and physical activity; not paying for or seeking product placement television programs, editorial content or interactive games aimed at children, unless the product is a healthier choice; not advertising and marketing to children in Australian schools unless they are asked to by those schools.
Source: AANA (2023)
This company is listed on the RSPCA Australia website as 'cage-free and proud', signifying a commitment to source 100% cage-free eggs. Essentially cage-free means barn laid, which is better than cage eggs, but still much worse than free-range or organic eggs when it comes to animal welfare.
This company has Corporate Social Responsibility claims on its website in the areas of limiting emissions to the water, air and land, and the efficient use of resources. Also available are policy statements regarding sustainable palm oil and sustainable cocoa.
The Arnott's Foundation is the charitable arm of Arnott's Biscuits Ltd. Supported projects include Camp Quality, Foodbank, Driver Reviver and Fairy Sparkle.
Kohlberg Kravis Roberts & Co LP
This company is listed as having best practice on a report card on lesbian, gay, bisexual and transgender equality in corporate America.
Forest 500 identifies the 350 companies and 150 financial institutions with the greatest exposure to tropical deforestation risk, and annually assesses them on the strength and implementation of their deforestation and human rights commitments. This financial institution received a score of 0%.
In 2005, Toys "R" Us was purchased in a US$6.6 billion leveraged buyout by private equity firms Bain Capital, KKR, and Vornado Realty Trust. While Toys "R" Us' revenues remained steady over the next 13 years - US$11.1 billion in sales in 2017 - the retailer was saddled with debt it couldn't repay. By 2007, 97% of the company's operating income was consumed by interest, which left the company unable to upgrade technology or evolve its business model. The heavy debt load eventually led Toy "R" Us to file for bankruptcy in 2018. The company liquidated in June of 2018 and closed their remaining 800 stores. Over 33,000 employees of the company lost their jobs and their severance payments in bankruptcy court. The PE companies controlling the Toys "R" Us bankruptcy refused buyers that would have saved thousands of jobs and instead chose liquidation to maximize the financial extraction. The private equity firms that owned Toys "R" Us collected more than $470 million in fees and interest from the retailer over the ownership period, while a total of 64,000 jobs were lost.
The 2024 Social Benchmark assesses the world's 2,000 most influential companies on their responsibility in meeting society's fundamental expectations towards three measurement areas: respecting human rights, providing decent work, and acting ethically. This company was assessed in 2022 and received a score of 0.5/20. The average score was an alarmingly low 4.6/20 and the highest score was 15.5/20.
JUST Capital polls Americans every year to identify the issues that matter most in defining just business behaviour. For their 2024 rankings the public identified 20 issues, which are organised under the headings Workers, Communities, Customers, Shareholders and Environment. JUST Capital then define metrics that map to those issues and track and analyse the largest, publicly traded U.S. companies. This analysis powers their rankings, in which this company ranked 764th of 937 companies, and 33rd of 38 Capital Markets companies.
The 2022 Financial System Benchmark ranks 400 financial institutions across three measurement areas: governance and strategy, respecting planetary boundaries (environment, climate and biodiversity) and adhering to societal conventions (human rights). This company ranked #343/400, with a total score of 0.5/100.
In 2014, this company, together with other private equity firms Blackstone and TPG, agreed to pay US$325m to settle a lawsuit that accused seven private equity groups of conspiring to fix the prices of some of the world's biggest leveraged buyouts.
This company received an S&P Global ESG Score of 26/100 in the Diversified Financial Services and Capital Markets category of the S&P Global Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices (last updated 23 Sep 2022). The rankings are based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, environmental reporting, climate strategy, human rights and labour practices.
In 2022 the median pay for a worker at this company was US$225,000. The CEO was paid 352 times this amount. Exorbitant CEO pay is a major contributor to rising inequality. CEOs are getting more because of their power to set pay, not because they are increasing productivity or possess specific, high-demand skills. The economy would suffer no harm if CEOs were paid less (or taxed more). In contrast, the CEO-to-typical-worker compensation ratio was 20-to-1 in 1965 and 58-to-1 in 1989.
This investigative report by China Labour Watch reveals how KKR turns a blind eye to the human impact of the massive production outsourced by Dollar General and other companies in its portfolio. CLW Executive Director Li Qiang states that DG has 'the worst labor performance in China of all major US retailers'. [Listed under Information due to age of report]
On 29 June 2015 the U.S. Securities & Exchange Commission charged this company with misallocating more than US$17m in 'broken deal' expenses to its flagship private equity funds in breach of its fiduciary duty. KKR agreed to pay nearly US$30m to settle the charges, including a penalty of US$10m.
This company received a score of 10/100 in the Newsweek Green Rankings 2016, which ranks the world's largest publicly traded companies on eight indicators covering energy, greenhouse gases, water, waste, fines and penalties, linking executive pay to sustainability targets, board-level committee oversight of environmental issues and third-party audits. Ranking methodology by Corporate Knights and HIP Investor.
This company has environmental, social and governance (ESG) claims on its website.
California, the UK and Australia have all enacted legislation requiring companies operating within their borders to disclose their efforts to eradicate modern slavery from their operations and supply chains. Follow the link to see this company's disclosure statement.

Company Details

Wholly-owned subsidiary
1 billion AUD (2019)
3,300 (2019)
Campbell Australasia Pty Ltd
Soups, stocks, sauces and juices
Campbells have a manufacturing facility in Shepparton, Victoria. In 2019 Campbell Soup Co sold its international business arm to private equity firm KKR, which included Campbell Soups in Australia and Arnotts Biscuits.
Good Food Partners Pty Ltd (75% owned)
Cereal and snacks manufacturer
Previously Diver Foods. This Arnott's business unit was created in 2021 from KKR's bolt-on acquisitions of Diver Foods and Freedom Foods. One of Australia's largest manufacturers of cereal and snacking products. Diver Foods founder Chris Diver owns a 25% stake.

Contact Details

24 George St, North Strathfield, NSW, 2137, Australia
02 8767 7000
1800 24 24 92

Products / Brands

180 Degrees Biscuits/Crackers
Arnotts Cakes
Arnotts Biscuits/Crackers
Shapes Biscuits/Crackers
Tim Tams Biscuits/Crackers
Wagon Wheels Biscuits/Crackers
Campbell Australia
Campbell's Pasta Sauce
Campbell's Stock
Campbell's Soup
Fray Bentos Canned Meat/Meals
V8 Juice & Fruit Drinks
Good Food Partners (75% owned)
Arnold's Farm Muesli & Oats
Freedom Foods Cereal
Freedom Foods Muesli & Oats
Freedom Foods Health Foods
Heritage Mill Muesli & Oats
Messy Monkeys Health Foods
Messy Monkeys Health Bars
Messy Monkeys Popcorn
Messy Monkeys Cereal
Sam's Pantry Muesli Bars
Sunsol Health Bars
Sunsol Muesli & Oats