Cadbury agrees to takeover by Kraft

19 January 2010
Cadbury agrees to takeover by Kraft

Cadbury is set to be taken over by Kraft after its board approved a new bid of nearly £12bn from the US food company.

The sale will create the world's largest confectionery group ahead of Mars bringing together 40 confectionery brands including Cadbury's Dairy Milk, Flake, Crunchie and Chocolate Buttons and Kraft's Toblerone, Milka, Oreo and Terry's.

Irene Rosenfield, chairman and chief executive officer of Kraft Foods said, "We have great respect for Cadbury's brands, heritage and people. We believe they will thrive as part of Kraft Foods."

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