What’s the first thing that comes to mind when you think of the federal government’s $15 billion National Reconstruction Fund? For most, it’s investments in next-generation technologies or the materials needed to make them – rare earths, lithium, computer chips, AI.

But if you were thinking Tim Tams and meat pies probably wouldn’t fall under the fund’s remit, think again.

This Australian taxpayer-funded investment vehicle is putting $45 million into financing a move by Arnott’s to colonise the world with Tim Tams. And there’s no mention of any new type of recycled packaging, genetically enhanced flour or chocolate, or artificially intelligent models that predict future flavours.

Tim Tam is one of Australia’s strongest cultural exports.Credit: Aresna Villanueva

The 160-year-old company is Australia’s biggest biscuit maker, pumping out everything from the iconic Tim Tam to the Monte Carlo. But Arnott’s hasn’t been Australian-owned for decades. It was acquired by Campbell’s Soup in the 1990s and bought by US private equity giant KKR for $US2.2 billion six years ago.

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© The Sydney Morning Herald