Cadbury acquires Romanian confectionery business

by Staff
Share This:

LONDON — Cadbury Schweppes P.L.C. has acquired 93.32% of Kandia-Excelent S.A. from Kandia n.v., a private equity investment holding company managed by Meinl Baking AG. Kandia-Excelent is a Romanian confectionery business.

The assets of Kandia-Excelent as of Dec. 31 were approximately £32 million.

"The purchase of Kandia-Excelent is aligned with our strategy of pursuing bolt-on acquisitions to further strengthen our confectionery platform," said Todd Stitzer, chief executive officer. "Kandia-Excelent has a strong position in the Romanian confectionery market, which is worth over €300 million and grew 17% last year. This acquisition gives us an exciting opportunity to further develop their leading brands and leverage their strong routes to market."

Kandia-Excelent is the second-largest confectionery company in Romania, and 2007 sales are expected to be around €50 million. The company has a production facility in Bucharest and about 850 employees.

Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.



The views expressed in the comments section of Food Business News do not reflect those of Food Business News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.