Cadbury Schweppes has been granted regulatory approval by Turkey’s competition watchdog for its acquisition of Turkey’s leading gum manufacturer Intergum.
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However, the regulator has stipulated that Cadbury license one of its existing Turkish gum brands, Nazar, to a third party. Nazar is a sugarless gum and currently has around 2.6% of the market.
Cadbury Schweppes said it now expects the US$450m acquisition to be completed shortly.
The UK-based sweets to soft drinks group announced its move for Intergum in June. According to Nielsen data, Intergum has a 46% share of the Turkish gum market, and also exports to the Middle East, the Balkans, Russia and the CIS.
CEO Todd Stitzer said in June that the company represented a good fit with Cadbury, with its strengths in gum complementing Cadbury’s leading position in the confectionery sector.
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