Business World

Monday 18 December 2017

Cadbury owner looking to sell brands in Europe: reports

Company restructured Irish business earlier this year

Cadbury has annoyed fans by changing the recipe of Fruit & Nut bars
Cadbury has annoyed fans by changing the recipe of Fruit & Nut bars

Mondelez International, the owner of the Cadbury chocolate brand, has hired bankers to explore the sale of a number of confectionery products and assets in United Kingdom, France, Spain and the Netherlands, Sky News reported.

The portfolio for sale includes the Terry's Chocolate Orange and Terry's All Gold brands, Sky News reported, citing people familiar with the process.

Mondelez has decided that the Terry's brand is not core to its business, according to the report.

In February Mondelez Ireland said more than 60 jobs were going with the closure of a chewing gum factory in Tallaght, Dublin, while another 160 lost their jobs with the restructuring of chocolate operations in Coolock, north Dublin and Rathmore, Kerry.

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The sale is being handled by Lazard, the investment bank that led Kraft's takeover of Cadbury in 2010, Sky News said.

Mondelez was not immediately available to comment.

Kraft Foods bought Cadbury for 11.7 billion pounds to create the world's top confectioner.

Kraft Foods split its snacks and grocery businesses in 2012. The Terry's brand became a part of the snacks business which was named as Mondelez International.

Reuters

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