Cadbury Schweppes division Cadbury Trebor Bassett has announced it will move into Israel’s chocolate and sugar confectionery sector.
The company will start off by investing US$4.5m in joint venture with Israel’s Carmit Candy Industries. Cadbury hopes to controls a 25% share of Israel’s sugar confectionery market by the end of 2004, and 12% of its chocolate sector.
Cadbury today [Tuesday] became the world’s largest confectioner via its acquisition of Pfizer’s Adams confectionery division (click here for more information on that deal).
In Israel it hopes to become the second largest player behind local giant Elite Industries in a currently sluggish market and invigorate the sector to increase consumption, reported Reuters. Elite enjoys a 70% share of the market, but with average annual per capita consumption of chocolate at just 2kg against a worldwide average of 10kg, there is scope for huge market development.