Cadbury Schweppes agrees to sell Monkhill

Cadbury Schweppes announced that it has agreed to sell its Monkhill business, which principally manufactures sugar confectionery and popcorn for the UK market, to Tangerine Confectionery Ltd for GBP 58 million in cash. According to Cadbury Schweppes, Monkhill s 2007 revenue is expected to be approximately GBP 76 million and 2007 pro forma earnings before interest, taxation, depreciation and amortisation are expected to be approximately GBP 6.7 million. The sale is expected to complete shortly. The sale of Monkhill will complete the programme announced in October 2005 to dispose of non-core brands and businesses. In total, this programme will have raised over GBP 270 million.