Britain's Cadbury Schweppes Plc agreed to buy the branded chewing gum business of Denmark's Dandy for $306 million to become Europe's second largest gum player

Food & Drink Weekly, July 1, 2002

Britain's Cadbury Schweppes Plc agreed to buy the branded chewing gum business of Denmark's Dandy for $306 million to become Europe's second largest gum player. The British-based firm said it expected the deal to close in the autumn and that its earnings would not be impacted in the first year following the deal, but it would benefit thereafter.

Dandy's branded business had turnover of $249.8 million in 2001. Cadbury Schweppes already had bought leading French chewing gum brand Hollywood from Kraft in May 2000. Sources say Cadbury is also gearing up for a $4 billion-plus bid for the world's second-largest gum producer, U.S.-based Adams confectionery, later this year.