Cadbury Schweppes said today (3 September) it has completed the acquisition of Intergum, the leading Turkish gum business.
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Cadbury Schweppes was granted regulatory approval by Turkey’s competition watchdog for the acquisition last week.
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 acquired the group for US$450m.
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.
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By GlobalDataCEO 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.
