Cadbury Schweppes has announced an agreement to buy South Africa’s number one chewing gum manufacturer from Dan Products at a cost of GBP33m (US$57.469m). The business produces chewing gum in Botswana for sale in South Africa under the Stimorol and Dirol brand names.
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Cadbury Schweppes said in a statement released today (8 February) that the acquisition will reinforce its participation in the South African market and act as a platform for future expansion.
The company also announced its intention to sell its South African soft drinks business Bromor Foods. Cadbury Schweppes expects to agree a sale in the first half of 2006. In 2004, Bromor’s revenue was ZAR767m (US$123.3m), and underlying profit from operations was ZAR72m.
