Kraft linked with Cadbury Schweppes move
A move for the £10bn confectionery company would come at a time of high consolidation in the consumer goods industry.
14/02/05 Shares at confectionery giant Cadbury Schweppes hit a three year high on Friday (up 3.8%) on the back of rumours that the company could be a takeover candidate for Kraft Foods. A period of high consolidation is on in the consumer goods industry following Proctor & Gamble’s takeover of Gillette last month, and the industry is waiting for the next big swoop.
US giant Kraft had previously been linked with a takeover of the £10bn UK based Cadbury Schweppes, while other giants such as Danone and Nestle have also been linked. A move at this time would come as a surprise however, considering that Kraft sold all of its confectionery operations to Wrigley last year, including the Life Savers, Creme Savers, Altoids, Trolli and Sugus brands. The $1.5bn sale represented about 1.5% of Kraft’s global revenues.
Kraft stuck to its position of not commenting on “media speculation” to FoodIngredientsFirst, while a Cadbury Schweppes spokesperson was unaware of any interest.
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