Arnott’s Group has secured $45 million from the National Reconstruction Fund Corporation (NRFC) to support the international rollout of its flagship Tim Tam biscuits.
The funding is part of a $1.75 billion debt refinancing package arranged by KKR Capital Markets, Morgan Stanley, and MUFG, set to mature next year.
The injection will allow Arnott’s to expand production capacity across its five Australian factories, which employ around 2500 people.
The move comes as the company scales exports, following a strong performance in the UK, where Tim Tam has sold more than 5 million packs since its April 2024 launch.
“Arnott’s is a great Australian company, and its products are a source of pride and enjoyment for so many Australians,” NRFC CEO David Gall said.
“So many of us have taken a pack of Tim Tam biscuits with us when we set out on travels across the globe. Taking such an iconic brand to international markets is something that is good for Australia and which the NRFC is excited to play a part in.”
The deal represents the third debt investment made by the NRFC, which is mandated to be active across the entire capital stack from debt to equity.
“This deal is significant because it is the second we have done in the Priority Area of Value Adding in Agriculture, an important part of the national economy,” NRFC chief investment officer Mary Manning said.
Earlier this year, Tim Tam launched its gluten-free version in the US across Albertsons stores nationwide.
