Cadbury deal to give us a meaningful entry into India: Kraft
The US-based Kraft Foods on Tuesday said its proposed acquisition of the British confectionery major Cadbury would give it a meaningful entry into the Indian market.business Updated: Jan 20, 2010 01:34 IST
The US-based Kraft Foods on Tuesday said its proposed acquisition of the British confectionery major Cadbury would give it a meaningful entry into the Indian market.
A Kraft spokesperson told PTI that both companies' geographic footprints are "highly complementary, which will lead to increased scale in key developing markets".
"From a Kraft Foods' perspective, Cadbury gives us a meaningful entry into India, where we have almost no presence today," the official said in a email statement.
Kraft would takeover Cadbury in a cash-and-stock deal worth about 11.9 billion pounds.
Earlier, a Cadbury spokesperson said India would continue to be a key market for the firm.
"It is too early to talk its implications it will have but India will be a key market for us and focus will definitely be there. It (Indian market) is already a significant contributor of Cadbury's global business," the spokesperson said.
According to Kraft, the combined group "will have a leading position in developing markets, including in Brazil, Russia, India, China and Mexico".
Being present here for the past 60 years, Cadbury sells popular chocolate brands like Dairy Milk, 5-Star and Perk, among others. Apart from chocolates, it also sells products in the snacks, beverages, candy and gums categories.