UK: Cadbury Schweppes Completes Acquisition Of Kraft Foods' French Chewing Gum and Candy Business
Cadbury Schweppes plc confirmed today the acquisition of Kraft Foods' chewing gum and candy business in France, following completion of the works council process and regulatory approval. The consideration was not disclosed.This acquisition comprises the Hollywood, Malabar and Tonigum chewing gum brands and Krema, Kiss Cool and La Vosgienne pocket and bagged candy brands, together with relevant manufacturing capability and distribution. These brands complement Cadbury Schweppes' current French chocolate and sugar confectionery business, giving greater access with a more comprehensive product portfolio to the impulse distribution channel.John Sunderland, Chief Executive Officer of Cadbury Schweppes, commented, "Kraft Foods' strong brands help us build critical mass in the French sugar confectionery market and give us entry into the profitable chewing gum segment. They are also highly complementary to our existing French confectionery business, which includes Poulain, Cadbury and La Pie Qui Chante products, and significantly extend our brand portfolio and customer base."The acquisition brings Cadbury Schweppes leadership in the overall French confectionery market, including number one positions in the sugar confectionery and gum segments. The French confectionery market is the seventh largest in the world at 333,000 tonnes, growing at 3% p.a. between 1994 and 1998.
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