Cadbury Schweppes sells businesses in Australia, Canada and Italia

Cadbury Schweppes plc announced the sale of three of its non-core businesses. The company has agreed to sell our Australian jams, toppings and jellies business to H. J. Heinz Company Australia Ltd. The sale includes the grant of a licence to use the Cottee s and Rose s brands in certain categories (expressly excluding confectionery and beverages) in Australia and New Zealand. The total sale price is approximately A$70 million (£29 million) in cash. Completion of the disposal is expected to occur early in the third quarter of 2007. Furthermore, Allan Candy, a Canadian bulk and seasonal candy business, to a company newly incorporated for the purpose, The Allan Candy Company Limited, for up to C$22 million (£10 million), comprising C$18 million (£8 million) in cash on completion with the balance depending on future performance. And Cadbury Italia, an Italian confectionery business, to Leaf Italia SRL for €9 million (£6 million). Ken Hanna, Chief Financial Officer, said: "Once all these transactions are completed, we will have raised over £200 million from our programme of non-core disposals. We remain on track to deliver our target of around £250 million from this initiative by the end of this year."