UK-based drinks and sweets giant Cadbury Schweppes has managed to squeeze one final takeover into 2001 with yesterday’s $16.6 billion purchase of iced drink manufacturer Slush Puppie.

Cadbury has this year already bought Snapple and the confectionery arm of Kraft Foods, and is in talks about purchasing Orangina and "other non-alcoholic brands", from Pernod-Ricard of France.

Slush Puppie will give its new owner entry into America’s non-fizzy drinks market. Explained Doug Tough, president and chief executive of Cadbury’s US arm Dr Pepper/Seven Up: “This acquisition … complements our existing business and allows us to immediately begin exploring non-carbonated frozen product extensions for soft drink brands in our portfolio”.

News source: BBC Online Business News (UK)