US: Cadbury Schweppes extends timetable for drinks arm sale
Cadbury Schweppes has delayed the sale process for its US drinks business due to the current "extreme volatility" of the debt markets.
The UK-based company said today (27 July) that it has decided to extend the sale timetable to "allow bidders to complete their proposals against a more stable debt financing market." No date was given for the new deadline however, with Cadbury Schweppes declining to give further details when contacted by just-drinks.
Cadbury Schweppes looked to calm rumours that it would have to abandon the multi-billion pound sale, however, by confirming that "interest in the business remains strong".
Last month, the UK-based company confirmed that a sale of its US drinks business appeared the most likely plan of action in the coming months. Coca-Cola Co. followed the announcement by saying it was interested in acquiring Cadbury Schweppes' iced tea line Snapple.
Cadbury Schweppes has maintained its silence amid recent rumours suggesting that a front runner has already surfaced for the unit. Recent reports in Europe have suggested that a joint bid by private equity company Blackstone Group, along with Kohlberg Kravis Roberts and Lion Capital, looks to be heading the race for the drinks division.
Cadbury Schweppes' interim results for the six months to 30 June will be announced next week.
As consumers look for healthier alternatives to traditional soft drinks choices, ready-to-drink (RTD) tea has become an increasingly dynamic category. Jeanette Bengtsson of Euromonitor International r...
The Coca-Cola Co. has teamed up with alternative transport company ZAP to distribute its beverages across Montevideo, Uruguay....
Britvic has appointed EMAP's chief marketing officer as its marketing director....
The Coca-Cola Co. has renewed its beverage agreement with Church's Chicken in the US....
The Coca-Cola Co. is set to buy a stake in recently renamed Coca-Cola Beverage Co. in South Korea, according to a recent filing....
Anheuser-Busch is rolling out its Budweiser & Clamato Chelada and Bud Light & Clamato Chelada pre-mixed products nationwide, on the back of successful test-marketing in Arizona, Colorado and Nebraska....
The top ten most visited stories on just-drinks this week:...
RTD coffee producers are broadening consumption opportunities for their products in a move to overcome the perception that coffee is unhealthy, according to an industry report....
- Are we kidding ourselves over craft spirits?
- What's behind Brown-Forman's Irish whiskey plans?
- Is Brown-Forman doing a Jack Daniel's in Ireland?
- How good a sustainability fit are ABI and SAB?
- Interview - Heineken global activation director
- Diageo, Treasury Wine Estates quiet on wine sale
- Chandon to become "third pillar brand" for MH
- Brown-Forman silent on Southern Comfort report
- Pay freeze anger threatens Carlsberg UK site
- Stoli appoints international marketing director
- The IWSR Duty Free/Travel Retail Report 2015
- Future growth opportunities for global spirits
- Global gin insights - market data, product innovation and consumer trends research
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research