The Arnott’s Group continues to develop its new cereals and snacks business with the acquisition of premium New Zealand cracker company 180degrees.
It follows Arnott’s’ purchase of Freedom Foods Group’s snacks and cereals division in December last year and Diver Foods in February.
180degrees was launched in 2001 and has built a reputation for its range of Oat Crackers, Lavosh, and Cheese Bites. Co-founder Jill Seton said the company had started as a passion project and it was important for the group to partner with a company that “shares our appreciation for legacy with a strong innovation approach”.
When the Diver Food acquisition was announced, Arnott’s CEO George Zoghbi said it was “no secret” the company wanted to draw upon its 150 year plus heritage in its expansion plans and would be creating a new division called Good Food Partners.
Arnott’s will acquire 100 per cent of 180degree, giving Arnott’s the ability to strengthen and diversify its presence in New Zealand, Zoghbi said.
“We know there is a strong appetite in New Zealand for locally produced, premium, wholesome products.
“The acquisition allows us to invest in a rapidly growing market, and to continue to innovate by introducing new tastes and textures that complement our existing product range,” he said.
