Tokyo-based beermaker, Asahi Breweries has entered into an agreement with Britain confectionary maker Cadbury to buy its Australian beverages arm, Schweppes for USD 810 million, said a company official.
“The successful sale of Schweppes Australia will complete Cadbury’s divestment of its beverage operations. As a result, Cadbury will focus solely on growing its chocolate, gum and candy portfolio, in line with the Vision Into Action strategy, announced in June 2007,” Todd Stitzer, chief executive officer, Cadbury.
According to the Asahi official, they had been constantly pursuing investment opportunities to enter into the soft drinks market worldwide. Cadbury was formerly known as Cadbury Schweppes until it demerged its Americas Beverages division in May.
— IndiaRetailing Bureau