Cadbury Schweppes has sealed the sale of its Monkhill business in the UK to Tangerine Confectionery.
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The sale of Monkhill completes Cadbury’s programme, first announced in 2005, to offload of non-core brands and businesses.
The deal to sell Monkhill, worth GBP58m (US$114m), was first announced in 2006 but a fire at the popcorn production facility held back the sale.
Monkhill, which makes brands including Butterkist popcorn, is expecting to post revenue of around GBP76m for 2007. Earnings, on a pro forma basis, are forecast to be GBP6.7m.
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