The Arnott’s Group has secured $45 million in government funding to help boost the manufacturing of the popular Tim Tam, as plans are made for continuing global expansion.

According to news.com.au the National Reconstruction Fund Corporation (NRFC) announced in early December that it would contribute the the large sum as part of a $1.75 billion debt refinance by The Arnott’s Group. The existing debt will mature in 2026.

The transaction will be arranged by KKR Capital Markets, Morgan Stanley and MUFG.

In a statement the fund said, “NRFC is supporting planned future growth capital expenditure as the company expands production and prepares to take some of its most iconic brands to the global market.”

“The refinancing helps secure the future of a market-leading food company that dates back to 1865, and currently employs more than 2500 Australian workers across five facilities.”

NRFC Chief executive officer David Gall said he held many fond memories of Tim Tams during his 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,” he said.

An NRFC spokesperson said for the great company to continue to thrive into the future, it needed to be positioning itself as a leader in advanced manufacturing.

“…and adapting its production to be future-ready,” the said.

Tim Tams hit major UK supermarkets in 2024, and swiftly outperformed all sale expectations, with more than 5 million packs sold since April 2024.

The Australian-made – but American-owned – biscuit was created in the 1950s by Arnott’s food technologist Ian Norris. The name was chosen by Ross Arnott, with the Tim Tam named after the horse that won the 1958 Kentucky Derby.