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Cadburys to up slice of chewing gum market?

20-Mar-2002

UK confectionery and drinks group Cadbury Schweppes is preparing a $2 billion (€2.27bn) bid for the chewing gum and cough drops arm of Pfizer, the world's largest drugs company, a British Sunday newspaper reported.

Adams, maker of chewing gums Trident and Dentyne and Clorets and Halls Mentho-Lyptus cough sweets, was rendered a non-core asset after Pfizer's $84 billion takeover of Adams' parent company Warner-Lambert two years ago, Reuters reports.

The Sunday Telegraph said an acquisition of Adams, which also makes Bubbaloo and Bubblicious, would give Cadbury a leading position in the global chewing gum market alongside world number one Wrigleys.

Cadbury, which also makes Dairy Milk chocolate and Dr Pepper drinks, became France's leading chewing gum maker in 2000 when it bought the Hollywood brand from Kraft Foods.

Analysts expect Adams to attract other bidders when it is put up for sale in the second half of this year.

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