Julius Meinl sells Kandia-Excelent to Cadbury Schweppes

Cadbury Schweppes plc has announced that it has acquired 93.32% of Kandia-Excelent S.A., a leading Romanian confectionery business, from Kandia NV, a private equity investment holding company managed by Meinl Bank AG. The gross assets of Kandia-Excelent at 31 December 2006 were RON153.3 m (appr. €43 m). Kandia-Excelent, which is listed on the Bucharest Stock Exchange, is the second largest confectionery company in Romania, with a 20% market share in total confectionery. It has a number 2 position in the chocolate market with a 24% share, and a leading position in candy with a 32% share. 2007 sales are forecast to be appr. €50 million, with around two-thirds coming from chocolate and the majority of the remainder from candy. Kandia-Excelent has a single production facility in Bucharest and approximately 850 employees.