Cadbury Schweppes has completed the acquisition of Adams confectionery business from Pfizer Inc. for $4.2 billion, plus $450 million for tax benefits.
The deal brings together the manufacturer of beverage and confectionery products with Adams, whose four top brands represent over 70% of its sales: Halls medicated confectionery, Trident sugarfree gum, Dentyne Ice chewing gum and the Bubbas bubblegum range.
Cadbury Schweppes and Adams’ confectionery businesses in the Americas will be integrated into a new unit, Americas Confectionery. Elsewhere, Adams operations will report into Cadbury Schweppes’ Europe, Middle East and Africa and Asia Pacific regions. Cadbury Schweppes said the transaction allows it access to major new markets, particularly in Latin America.
The deal was announced Dec. 17, 2002.
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