Cadbury completes sales of Australian Schweppes business

Net proceeds in 2009 after costs and other charges are expected to be around £475m and will be used to reduce Cadbury’s net debt.

Todd Stitzer, CEO of Cadbury, said: “The successful sale of Schweppes Australia has completed Cadbury’s transformation into a pure-play total confectionery business. Cadbury is now well positioned with a clear strategy to improve performance, a competitively differentiated portfolio of strong brands and attractive markets, and a committed management team with the capabilities and experience to deliver our plan.”

Source: Cadbury