US: New York Snapple deal approved
Snapple's deal with the city of New York has been approved by a review commission. The contract has faced severe criticism since it was announced in September.
The Franchise and Concession Review Committee voted 4-2 in favour of the deal yesterday. Mayoral appointees cast the four pro-votes, while William Thompson, a vocal opponent of the deal, and the borough presidents, who collectively had one vote, made up the con-party.
The Cadbury Schweppes-owned Snapple brand secured the US$166m deal with the city earlier this year to become its official sponsor. The deal grants the brand exclusive rights to sell its beverages to 1,200 schools and other public buildings and to advertise on public transport and rubbish bins.
Thompson is allegedly conducting an audit of the controversial agreement and could still refuse to register the contract when it is formally presented to him.
Cadbury-Schweppes has insisted that the disposal of its European soft drinks businesses is not indicative of a move away from soft drinks, but analysts see the group focusing increasingly on confectio...
Cadbury Schweppes has agreed to sell its European beverages business....
PepsiCo has refused to comment on reports linking the company with a bid for Cadbury Schweppes' soft drink business....
The European arm of drinks group Cadbury Schweppes is expected to be sold next month for around GBP1.1bn ($1.9bn), according to press reports....
UK-based soft drinks to sweets group Cadbury Schweppes has issued a trading update ahead of an investor seminar to be held in Dallas, Texas on 10 and 11 October....
Cadbury Schweppes is moving ever closer to selling off its European soft drinks business, according to German press reports....
Rumours are circling that Cadbury Schweppes' soft drinks business may be merged with Britvic....
Cadbury Schweppes Americas brand Mott's has announced a new line of fortified beverages....
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