The government is lending the company behind iconic Australian biscuit Tim Tams $45m to take the chocolate delight worldwide.
The National Reconstruction Fund Corporation (NRFC) – a government-owned investment fund created to bolster Australia’s industries – on Monday revealed it will help Arnott’s Group add advanced manufacturing capability to create Tim Tams for exporting around the world.
Tim Tams are currently sold in all major British supermarkets, and more than five million packs have been sold since April 2024.
NRFC chief executive David Gall said investing in Arnott’s was crucial as the company prepares to take Tim Tams to other nations.
“So many of us have taken a pack of Tim Tam biscuits with us when we set out on travels across the globe,” Mr Gall said in a statement.
“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.
“For this great company to thrive into the future it needs to be positioning itself as a leader in advanced manufacturing in Australia and adapting its production lines to be future ready.”
The NRFC has contributed $45m to the company for its refinancing of its existing $1.75b debt that is due in 2026.
It is expected to help secure the company’s future as it struggles with the large debt.
The NRFC was a major election promise of Labor’s in 2022 and was in response to the Biden Administration investing hundreds of billions of dollars into green energy subsidies.
Arnott’s Group currently employs more than 2500 Australian workers across five facilities.
Investment into the Tim Tams maker comes after the NRFC made a $36m deal with Patties Food Group – the maker of Four’N Twenty meat pies.
The NRFC’s chief investment officer Mary Manning lauded the recent moves which have been amongst the 17 investments, totalling more than $1b, it has made since late 2024.
“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,” Ms Manning said.
“This is one of the seven Priority Areas our legislation mandates us to invest in and signifies our confidence that value adding in agriculture through processing foods and producing consumer packaged goods is an area where Australia can and should compete with the world.”
