Former owner of Cadbury's top brand acquires 2.9 per cent in Cadbury Schweppes
By Our Corporate Bureau | 14 Mar 2007
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Cadbury Schweppes shares rose 10 per cent sparking takeover speculation after Nelson Peltz, a leading US businessman bought a 2.9 per cent stake in the confectionary and drinks giant.
Cadbury confirmed that Peltz and a number of his associates had bought 62 million shares in the firm, equivalent to 2.9 per cent of its total equity.
In 2000, Peltz, who owned the Snapple fruit drinks firm, sold it to Cadbury for £749 million in 2000. Snapple is one of Cadbury's best-performing brands.
Last year, Peltz was in the news for acquiring a stake in US food giant Heinz, and asking for changes in the company's board and strategy.
Cadbury's drinks brands include 7 Up and Dr Pepper while its chocolate range includes well-known bars such as Flake, Crunchie and Wispa. It suffered a series of setbacks last year including a salmonella outbreak at one of its UK plants leading to the product being taken off the shelves at a cost of £30 million.
Cadbury confirmed that Peltz and a number of his associates had bought 62 million shares in the firm, equivalent to 2.9 per cent of its total equity.
In 2000, Peltz, who owned the Snapple fruit drinks firm, sold it to Cadbury for £749 million in 2000. Snapple is one of Cadbury's best-performing brands.
Last year, Peltz was in the news for acquiring a stake in US food giant Heinz, and asking for changes in the company's board and strategy.
Cadbury's drinks brands include 7 Up and Dr Pepper while its chocolate range includes well-known bars such as Flake, Crunchie and Wispa. It suffered a series of setbacks last year including a salmonella outbreak at one of its UK plants leading to the product being taken off the shelves at a cost of £30 million.
