Cadbury Schweppes plans to sell Snapple
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- June
- 19
Cadbury Schweppes PLC announced today that it plans to sell its U.S. beverage unit, which includes the Snapple and Motts brands managed out of Rye Brook as well as Dr Pepper and 7 Up.
The London-based company known for its chocolate candy and Trident gum said it wants to bolster profits and concentrate on candy-making. To cut costs, it plans to eliminate 7,500 jobs in its confectionary business and further reduce its workforce by 15 percent over the next several years.
In March, Cadbury announced plans to either sell its beverage business or separate the candy and drink sectors.
Today it released a statement that said, “The sale process is actively underway, and following expressions of interest, we now believe that a sale is the more likely outcome.�
Cadbury purchased Dr Pepper and 7 Up for $2 billion in 1995, managing those brands out of Plano, Texas.
The company came to Westchester in 2000 when it bought the Snapple brand from a Peltz company for $1.45 billion. About 275 people work in its Rye Brook offices.
This entry was posted
on Tuesday, June 19th, 2007 at 5:45 pm by Alison Bert.
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Category: Corporate doings
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