Cadbury Schweppes to sell Monkhill

Cadbury Schweppes has agreed to sell its Monkhill business, which principally manufactures sugar confectionery and popcorn for the UK market, to Tangerine Confectionery for £58 million in cash.

Monkhill’s 2007 revenue is expected to be approximately £76 million and 2007 pro forma earnings before interest, taxation, depreciation and amortisation are expected to be approximately £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 £270 million.