UK: Cadbury Schweppes Completes Acquisition Of Pepsi Lion Nathan Joint Venture in Australia
Cadbury Schweppes plc confirmed today the completion of the acquisition by its Australian subsidiary, Schweppes Cottee's, of 100% of the Australian business operations of the Pepsi Lion Nathan joint venture, Pepsi Cola Bottlers Australia. The value of the net assets was AUD102m as at the last balance sheet date (31 August 1999). The consideration was not disclosed.This acquisition makes Cadbury Schweppes the exclusive bottler for Pepsi Cola Inc. brands in Australia including Pepsi, Diet Pepsi, Pepsi Max, 7 UP and Mountain Dew, and includes four bottling plants. These brands will be combined with Cadbury Schweppes' flavoured brands such as Schweppes, Solo, Sunkist, Dr Pepper and Oasis.Retail sales of carbonated soft drinks in Australia are valued at approximately AUD4.5 billion (about 1.8 billion pounds sterling). This transaction is expected to increase Schweppes Cottee's volume of carbonated soft drinks by over 60%, growing its share from around 15% to 25%.
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