Asahi finalises Schweppes purchase
Asahi’s acquisition of Schweppes is now complete, with the A$1.185 million deal going through on Friday.
Todd Stitzer, CEO of Cadbury, said the UK-based firm decided to sell the Schweppes business last year to focus all attention on their extensive confectionery portfolio.
“The successful sale of Schweppes Australia has completed Cadbury’s transformation into a pure-play total confectionery business,” he noted. “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.”
Japanese brewer Asahi advised that the acquisition of Australia’s second largest non-alcoholic beverage maker would create “a new platform for growth in Oceania” as growth in their home market stalls.
