After filing for administration last month, Montezuma’s Chocolates has been rescued by Paramount Retail Group, which announced it has appointed the brand’s founders Helen and Simon Pattinson to the helm of the company.
Norwegian supplier Orkla has agreed to acquire the British chocolatier and specialty fudge maker County Confectionery through its wholly-owned subsidiary NIC Group for undisclosed sum.
Executives at US food group Kraft have been recalled by the UK parliament’s Business, Innovation and Skills Committee to give evidence again in relation to certain aspects of the controversial takeover of Cadbury last year.
The City code regulating hostile acquisitions of UK firms needs a radical overhaul, with greater employee and community consultation at the top of the agenda, say union leaders.
Limited changes to the City code regulating hostile acquisitions of public firms are welcome, but sweeping changes risk hurting British business, top lawyers agree.
US food giant Kraft issued a public apology regarding the U-turn on its pledge to keep operational the Cadbury plant near Bristol, and it also promised to ensure no job losses over the next two years as it faced a committee of UK politicians yesterday.
Directors of both US food group Kraft and Cadbury are being called to account at a committee of UK politicians regarding the acquisition of the Dairy Milk maker tomorrow.
US based market analyst firm Bernstein Research claims that there is more value for Cadbury shareholders in the UK confectionery giant remaining a standalone company should a higher bid from Kraft does not materialise.
Cadbury’s updated statement on revenue growth for the next four years should incentivise its shareholders to hold out for a higher offer than the bid from Kraft Foods or remain independent, according to market research firm Sanford C Bernstein.
British and Irish workers at Cadbury have announced a campaign to resist Kraft’s hostile ₤9.8bn ($16.3bn) takeover bid by appealing to shareholders and politicians to block the deal.
