DENMARK: Dandy to sell gum brands to Cadbury Schweppes - reports
Acquisitive UK confectionery and soft drinks company Cadbury Schweppes is close to extending its chewing gum portfolio in Denmark.
The Bagger-Soeresen family, which owns the Danish chewing gum manufacturer Dandy A/S, told Dow Jones Newswires that it is close to finalising an agreement to sell parts of its business to Cadbury Schweppes. "We're still in talks but whether we'll reach a deal this week or the next I can't say yet," owner Holger Bagger-Soerensen said. We're close but still have a few issues left to be sorted out."
The deal needs to be agreed by 7 July, Bagger-Soerensens added. The two groups have been in discussions since April.
It is unclear how much the deal might be worth, or which brands it would include. The world's fourth largest chewing gum company, Dandy makes the Stimorol, Dirol and V6 brands and last year reported sales worth DKr2.2bn (US$0.29bn).
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