Arnott’s Biscuits is a brand that belongs to Campbell Soup Co. This is the second time in a week, that an offshore business has acquired an Australian food and drink business.

According to a report from the Australian Financial Review, KKR & Co is acquiring Campbell Soup Co’sAustralian snacks business Arnott’s Biscuits for $2.2 billion. The acquisition will provide it with the ownership of top-selling cookie brands such as Tim Tam.

“I can confirm that KKR’s offer for Arnott’s was accepted by Campbell’s late last night,” said KKR & Co.’s Australia-based spokeswoman without mentioning the price of the acquisition.

Campbell Soup’s spokeswoman declined to comment on the report.

She went on to add, “The process to divest Arnott’s and the rest of our international operations is ongoing”.

This is the second time that a non-Australian company has acquired a large Australian food and drink brand in a week; the development comes in the wake of Anheuser-Busch InBev agreeing to sell its Australian operations, including its best-selling brands such as VB and Carlton Draught, to Japan’s Asahi for $11 billion.

Last August, Campbell had placed its international unit and “fresh” units up for sale after coming under pressure from investors to improve profitability and stock performance.

This month, it sold its Danish business Kelsen Group to an affiliate of Nutella maker Ferrero SpA for $300 million.

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Tags: AB InBev, Anheuser-Busch InBev, Arnott’s Biscuits, Asahi, Australia, Australian, Australian Financial Review, Australian operations, brands, Campbell Soup Co, Carlton Draught, cookie brands, Japan, KKR & Co, M&A, mergers and acquisition, ownership, sale, sell, snacks business, Tim Tam, VB