COLA KING TO BUY GLOBAL RIGHTS TO DR. PEPPER, CANADA DRY.
Byline: Bloomberg News
Coca-Cola Co. agreed to buy most of rival Cadbury Schweppes Cadbury Schweppes plc is a confectionery and beverage company with its headquarters in Berkeley Square, London, England, UK. Cadbury Schweppes is currently the only major international confectionery manufacturer to produce Fairtrade or organic products, which it sells through its Plc.'s beverage brands outside the U.S. for $1.85 billion in cash and debt, adding Cadbury's Canada Dry Canada Dry is a brand of soft drinks marketed by Dr Pepper/Seven Up, a unit of Cadbury-Schweppes. Canada Dry is best known for its ginger ale, but also manufactures a number of other soft drinks and mixers. , Dr. Pepper and Crush brands to its stock in more than 120 countries.
``The test will be whether Coke can extract more from those brands than Cadbury was able to,'' said Michael Schroeder Michael Schroeder is a computer scientist perhaps most famous as the co-inventor of the Needham-Schroeder protocol. He is the assistant director of Microsoft Research Silicon Valley, where he has been since its inception in 2001 when he moved from DEC SRC. , chief investment officer of Wasmer, Schroeder & Co. in Naples, Fla., which owns Coke stock. London-based Cadbury is all but withdrawing from international beverage markets as it concentrates on its candy and U.S. soda businesses.
Coke's move is the latest by Chief Executive Douglas Ivester Douglas Ivester (1947-) was appointed as Chief Executive Officer of Coca-Cola Company after the death of Mr. Roberto Goizueta. He retired in February 17, 2000.
Malcom Douglas Ivester was born in New Holland, Georgia. to cement its position over PepsiCo Inc. as the leading beverage company in most nations.
Brad Shaw Brad Shaw was born April 28, 1964 in Cambridge, Ontario, Canada and is Assistant Coach for the St. Louis Blues. Shaw was drafted by the Detroit Red Wings in the 5th round (86th overall) in the 1982 NHL Entry Draft. , a spokesman for rival PepsiCo Inc., said the No. 2 soft-drink maker will ``take a close look at every aspect of this deal,'' but declined to be more specific.
PepsiCo owns international rights to 7UP, which is a Cadbury soft drink in the U.S., and its U.S. bottlers are large distributors of Cadbury sodas.
The transaction, which requires regulatory approval, is likely to be concluded in mid-1999 and excludes South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. and France. France is omitted because Coke wants to appease regulators there who rejected its $902 million offer for Orangina because of competitive concerns.
Atlanta-based Coca-Cola's market share of the world's soft-drink industry will increase to 52 percent from 50 percent as a result of the acquisition, said Salomon Smith Barney analyst Jennifer Solomon, who upgraded Coke shares to ``buy'' from ``neutral'' after the announcement.
PHOTO (Color) Coca-Cola is buying the right to sell Cadbury Schweppes brand beverages like these outside the U.S., France and South Africa.
John Lazar/Daily News