Cadbury buys Snapple
The British company Cadbury Schweppes PLC agreed to pay just over US$1 billion plus the assumption of about US$420 million in debt for the Snapple, Mistic and Stewarts brands and Royal Crown soft drink concentrates from Triarc Cos., New York. The sale will leave Triarc effectively debt-free with about US$400 million in cash for acquisitions. Although carbonated soft drinks still claim a lion’s share of the US soft drinks market, non-carbonated drinks and water could make up as much as 50% of the overall beverage industry’s growth over the next five years according to market
observers. In the first half of 2000, juice drinks grew significantly in volume: Snapple (27%), SoBe (90.4%), and FruitWorks (100%). However, some carbonated soft drinks lost volume: Sprite (-3.5%), Pepsi-Cola (-1.
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