Cadbury said today (18 May) that it had acquired a further 4% stake in its Turkish business Kent Gida Maddeleri.
The acquisition from Tahincioglu Holding, increases the Cadbury shareholding in Kent to 99.36%. Financial details were undisclosed.
Last month, Cadbury said it believes it will deliver revenue growth around the lower end of its 4-6% goal range for this year.
Updating the market on its first-quarter performance, the world’s largest confectionery company said that it had seen revenue growth of 2% in constant currency and 11% in reported currency, as emerging markets and the UK offset weaker performances in the US and Europe.
However, volumes were down due to trade de-stocking, particularly in the US and Canada.