CADBURY SCHWEPPES AGREES TO SELL MONKHILL: COMPLETES NON-CORE DISPOSAL PROGRAMME
18 Jan 08
Cadbury Schweppes announces that it has agreed to sell its Monkhill business, which principally manufactures sugar confectionery and popcorn for the UK market, to Tangerine Confectionery Ltd for £58 million in cash. Monkhill's 2007 revenue is expected to be approximately £76 million and 2007 pro forma earnings before interest, taxation, depreciation and amortisation are expected to be approximately £6.7 million. The sale is expected to complete shortly.
The sale of Monkhill will complete the programme announced in October 2005 to dispose of non-core brands and businesses. In total, this programme will have raised over £270 million.
