CADBURY TO ACQUIRE ADAMS
By Adnews Staff
London-based beverage and confectionery company Cadbury Schweppes will acquire New York-based Pfizer's Adams confectionery division for $4.2 billion. The purchase includes the Halls, Trident, Dentyne, Bubbas, Clorets, Chiclets and Certs brands along with other products, manufacturing facilities, sales and distribution networks. Once the sale is complete, expected by the spring of 2003, Adams will become part of a global confectionery group within Cadbury. According to the company, the deal will make Cadbury Schweppes one of the largest global confectionery companies and the second largest manufacturer of chewing gum. Cadbury brands include Cadbury, Schweppes, Dr Pepper, 7 UP, Snapple, Orangina, Hollywood, Stimorol, Trebor and Bassett.