In 1997, the Campbell Soup Company of North America, a shareholder of Arnott's since the 1980s, acquired Arnott's in full. Thus, in 1997, Arnott's Biscuits Ltd became a wholly owned subsidiary of the Campbell Soup Company. This caused a significant amount of controversy in Australia, based on the desire for such an Australian icon to remain in Australian hands, and a fear that Campbell's would Americanise the products.
Manufacturing of Arnott's biscuits, however, remained in Australia, and as part of a long-term expansion plan, Arnott's closed its Melbourne factory in September 2002. At the same time, it expanded its facilities in Sydney, Adelaide and Brisbane.[9]
In 2002, Arnott's acquired Snack Foods Limited.[10]
In April 2008, Campbell Arnott's sold Arnott's Snackfoods to The Real McCoy Snackfood Co. and the company is now known as Snack Brands Australia.