Cadbury Schweppes yesterday announced the purchase of US fruit juice and cold tea firm Snapple for £1 billion.
The company is in an expansionist mood, and is also buying Mistic fruit juice-flavoured sodas firm Stewart’s and RC Cola. Chief executive John Sunderland told investors that Cadbury still “retains significant financial firepower”, with £2 billion still in its war chest.
The deal with Snapple increases the company’s grip on the non-cola soft drinks industry in the US. 98% of Snapple’s sales are in North America.
News source: The Times (London)