April 6 - Cadbury is said to be preparing to launch a bid to takeover Chewits manufacturer Leaf International as part of a European expansion plan.
The UK chocolate and sweets giant is reported to be readying to buy the Dutch company, which is one of Europe’s largest confectionery outfits, employing 3,500 workers and posting annual sales reaching GBP 550 million.
Cadbury is thought to be interested in acquiring Leaf International’s operations in Scandinavia and the Benelux countries, which have a combined value of up to EUR 600 million.
Leaf’s Italian business, which it bought from Cadbury in 2007, is unlikely to be part of the deal as the UK company is thought to be reluctant to re-enter a market it recently exited.
Private-equity firms CVC Capital and Nordic Capital put Leaf on the market, after purchasing the firm in 2004 from the Dutch conglomerate CSM for $1.2 billion (GBP 800m). It is believed Cadbury will face competition from other bidders, including Italy’s Perfetti.