Cadbury Finalizes Orangina Deal
UK soft drinks group Cadbury Schweppes Plc wrapped up its $643 million deal to buy the soft drinks business of France's Pernod Ricard, which is headed by Orangina.
The deal for beverage brands such as Orangina and Yoo-Hoo brands covers the North American, European and Australian markets. The deal remains subject to approval by European Union and U.S. regulators.
Cadbury and Pernod have been in exclusive talks for 12 months to try to strike a deal after Pernod's agreed sale of Orangina to Coca Cola Co was blocked by the French authorities. Cadbury is ranked third in global soft drink sales behind Atlanta-based Coca-Cola Co. and Purchase, N.Y.-based Pepsico Inc., according to Reuters.
Orangina will join Cadbury's Oasis, Canada Dry and Dr Pepper brands and will double Cadbury's share of the French soft drinks market to almost 19 percent, making it number two after Coke.
The deal for beverage brands such as Orangina and Yoo-Hoo brands covers the North American, European and Australian markets. The deal remains subject to approval by European Union and U.S. regulators.
Cadbury and Pernod have been in exclusive talks for 12 months to try to strike a deal after Pernod's agreed sale of Orangina to Coca Cola Co was blocked by the French authorities. Cadbury is ranked third in global soft drink sales behind Atlanta-based Coca-Cola Co. and Purchase, N.Y.-based Pepsico Inc., according to Reuters.
Orangina will join Cadbury's Oasis, Canada Dry and Dr Pepper brands and will double Cadbury's share of the French soft drinks market to almost 19 percent, making it number two after Coke.