Mott’s Inc., a subsidiary of Cadbury Schweppes plc (NYSE: CSG), announced yesterday that it had agreed to acquire New Jersey-based Carteret Packaging, Inc. for $14.8 million. The transaction is expected to be completed by the end of January and does not require regulatory approval.
Carteret Packaging, Inc., located in Carteret, New Jersey, is a co-packing facility, bottling beverage products primarily for Cadbury Schweppes subsidiary Snapple Beverage Group. The acquisition also includes three leased warehouses.
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“The acquisition of Carteret provides our North American beverage businesses with logistical synergies,” said John Brock, chief operating officer, Cadbury Schweppes plc. “Snapple products will continue to be bottled at Carteret, and the plant will be run as part of Mott’s Inc., because they have expertise in manufacturing finished products. This sharing of skill sets demonstrates how we are using the strengths of each of our North American businesses to gain competitive advantages.”
“Working with Snapple, we expect to gain significant synergies in production, warehousing and inventory reduction, through this acquisition,” said Mott’s President, Brad Irwin.
Carteret currently employs 150 people and that number is expected to increase as production at the facility increases.
White Plains, N.Y.-based Snapple Beverage Group is the leader in the premium beverage business and its portfolio includes Mistic, Snapple and Stewart’s. More information about Snapple can be found on its web site, www.snapple.com.
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By GlobalDataMott’s Inc. is headquartered in Stamford, Conn. and is the nation’s leading producer of branded apple sauce and apple juice. More information about Mott’s can be found on its web site, www.motts.com.
