Kraft Foods of Northfield, Ill., today announced that it has signed an agreement to sell Cadbury's Kandia-Excelent chocolate, soft cake and sugar confectionery business in Romania to Oryxa Capital, an international investment fund, for an undisclosed sum.
The sale includes Kandia-Excelent brands (Rom, Magura, Kandia, Laura, Sugus and Silvana, and others), related trademarks and the manufacturing facility in Bucharest. Approximately 530 Cadbury Romania employees work for Kandia-Excelent. Kraft Foods will retain the Cadbury international brands, including Halls candy.
This sale follows the European Commission's decision to approve Kraft Foods' acquisition of Cadbury plc conditioned on the divesture of the Cadbury’s Kandia-Excelent chocolate and soft cake business and Cadbury's E. Wedel business in Poland, which was announced on June 28. Both of these sales are subject to the Commission's approval.
Kraft Foods has annual revenues of approximately $48 and is the world's second largest food company, making products for consumers in more than 160 countries. Its portfolio includes 11 iconic brands with revenues exceeding $1 billion, including Oreo, Nabisco and LU biscuits; Milka and Cadbury chocolates and Trident gum.
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Kraft Foods to sell Cadbury's Romanian business
July 14, 2010