UK: Cadbury Schweppes acquires chewing gum business in China
Cadbury Schweppes today announces the acquisition of the business of Wuxi-Leaf Confectionery Co. Ltd., a company which markets, sells and manufactures sugar free and low sugar chewing gum in China. The value of the assets acquired is CNY 21 million (1.58 million pounds sterling). The acquisition also includes local trademarks such as the SPORTLIFE and POLI gum brands.Wuxi-Leaf has number 2 position in the sugar free chewing gum market in China. Situated in the city of Wuxi near a major freeway, two hours west of Shanghai, Wuxi-Leaf operates in the largest and fastest growing confectionery market in China. The total gum market in China, worth US$79 million (in 1998), is estimated to be worth double that in 2003. The sugar free segment of that market is expected to almost triple, from roughly 2% (in 1998) to 6% in 2003.This acquisition offers the opportunity for Cadbury Schweppes to achieve synergies with its existing Asia Pacific operations, for example, in distribution and the development of export markets.John Brock, Chief Operating Officer of Cadbury Schweppes, commented, "The acquisition of Wuxi-Leaf emphasises our commitment to growth markets and underlines our strategy of building strong brands and businesses."
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- 2017: three major drivers of M&A strategy
- Comment: Premier has more to ponder than Brexit
- The food market in 2017 - consumer trends and M&A
- Food market in 2017: need-to-know US trends
- Trump seen as negative for global food trade
- Premier Foods issues profit warning
- Nestle mum on Mead Johnson takeover talk
- Mondelez sells Vegemite to Bega
- Kellogg to slash 250 jobs
- Lindt sees FY sales acceleration on Europe growth