Cadbury to sell final drinks arm
Confectionery firm Cadbury has agreed the sale of its Australian drinks business to Japanese brewer Asahi for £550 million.
The company’s exit from the drinks business will be completed by the sale of Schweppes Australia after the spin-off of its US beverages arm, Dr Pepper Snapple, in May.
The Dairy Milk-maker dropped Schweppes from its name earlier this year to reflect the company’s new focus on chocolate, sweets and chewing gum.
The sale to Asahi would only be prevented by an intervention from Coca-Cola, which has the right until next March to negotiate a potential acquisition of the Australian business under an agreement struck in 1999.
Schweppes Australia is the second largest non-alcoholic beverages business in the country and its portfolio consists of both owned and franchised brands, including Schweppes and Pepsi. It has around 1,500 staff and generated revenues of £313 million last year.
Cadbury has said that its UK division continued to "grow well", although it saw some softening of trading in North America.
Alongside Dairy Milk, its other main brands include Trident chewing gum and Halls cough sweets.
Copyright © Press Association 2008
Related posts:
- Tub packaging for Cadbury’s luxury ice cream
- Cadbury’s Caramel bar relaunched
- Tasty news for Cadbury’s profits
- CADBURY HAS GONE FAIRTRADE
- CADBURY’S LAUNCHES ITS SINGLE (RECORD)
- Cadbury announces packaging makeover
- CADBURY AND BURTONS TEAM UP TO RELEASE NEW BISCUITS
- CADBURY INTRODUCES PRICE-MARKED PACKS ON ITS TOP COUNTLINES
