Cadbury P.L.C. begins standalone trading
May 02, 2008
by FoodBusinessNews.net Staff
LONDON — Cadbury Schweppes’ efforts to separate its beverage business are one step closer to completion as Cadbury P.L.C. started trading as a standalone confectionery company today. Dr Pepper Snapple Group will start trading on the New York Stock Exchange on May 7, completing the demerger process.
"The separation of beverages allows us to take the company back to the future," said Todd Stitzer, chief executive. "The past few years have seen a transformation of the group’s performance, and as a focused confectionery company we will be able to do better still. Our superior geographic and category reach offers excellent organic growth opportunities, and we have the strategy to capture them. We are absolutely focused on delivering superior performance — meeting our revenue and margin targets — and we will continue to do this by doing business in the right way."
The new Cadbury business has revenue of more than £5 billion and underlying profit from operations of about £500 million. Cadbury P.L.C. has 10.1% market share and has No. 1 or No. 2 market share positions in more than 20 of the world’s top 50 markets.
Cadbury believes it has increased its potential during the last five years by integrating the Adams business and by making a significant increase in investment in innovation, marketing and distribution.