Cadbury's Asks For Final Bids in US Drinks Sale

15 June 2007

LONDON: Today (Friday) marks the deadline for offers for the US beverage arm of Cadbury Schweppes, valued at £7.5 billion ($14.7bn; €11.1bn) and the object of attention for a number of private equity groups.

The UK-headquartered drinks and confectionery giant decided to split its operations earlier this year, and has invited final bids for brands such as Dr Pepper and 7-Up.

US consortium Bain Capital, Thomas H Lee Partners and the Texas Pacific Group is up against the Blackstone Group, Kohlberg Kravis Roberts and London's Lion Capital.

A third consortium includes the Cott Corporation, the provider of retail brand drinks for Wal-Mart, and a further clutch of private equity firms.

Cadbury has recently disposed of businesses in Australia, Canada and Italy. In addition, UK and Ireland MD Simon Baldry was relieved of his duties last week as part of a managerial restructuring process.

The firm is also expected to announce further cost-cutting at the end of the month as it looks to make £200 million in savings across its confectionery operations.

Data sourced from; additional content by WARC staff