In his first interview since becoming managing director of Cadbury India in February this year, Matthew Jonathan Cadbury said the company would be hitting the acquisition trail to reach its stated target of 20% turnover growth in the next year. This is ambitious, at almost double the rate of growth in recent years, reports the Business Standard from Mumbai.
“We are looking at acquiring brands or companies in the sugar confectionery industry,” revealed Cadbury, son of former Cadbury chairman Adrian Cadbury. He refused to be drawn on which companies or brands Cadbury had in its sights, but added that snack foods were also an area of interest for the group.
Nevertheless, chocolate remains Cadbury’s core business and currently accounts for 64% of turnover, although Cadbury believes this could fall to less than 50% in five years as the company ups its snack interests.
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