New Delhi: Confectionery maker Cadbury,
which has agreed to be acquired by US-based Kraft Foods, on Tuesday
said India will remain a key market for its business.
Kraft would takeover British confectioner Cadbury Plc in
a cash-and-stock deal worth about 11.9 billion pounds.
Declining to comment on the implications of the takeover
on the Indian business, a Cadbury spokesperson said India
would continue to be a key market.
"It is too early to talk its implications it will have
but India will be a key market and focus will definitely be
there. It (Indian market) is already a significant contributor
of Cadbury's global business," the spokesperson told PTI.
Having a presence in India for the last 60 years, Cadbury
sells popular chocolate brands like Dairy Milk, 5-Star and
Perk, among others. Apart from chocolates, the firm sells
products in the snacks, beverages, candy and gums categories.
Cadbury has almost doubled its turnover to Rs 2,000 crore
in the last four years, growing at 20 per cent annually.
The combination of Cadbury and Kraft would have more than
40 confectionery brands across many countries.
According to Kraft, the combined group "will have a
leading position in developing markets, including in Brazil,
Russia, India, China and Mexico".
PTI
First Published: Tuesday, January 19, 2010, 20:54