Kraft Foods has insisted the company will hang on to a clutch of the Polish assets it acquired when it bought Cadbury.
The US food giant has appointed banking advisers to oversee the sale of Cadbury’s Wedel brand in Poland and the Kandia chocolate and cake operations in Romania.
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In January, before Kraft succeeded in its pursuit of Cadbury, the EU said it would give the green light for the deal if the US group offloaded operations in Poland and Romania.
Last night (12 April), a Kraft spokesman confirmed the company would retain parts of Cadbury’s operations in Poland.
“We plan to keep the non-Wedel branded sugar confectionery business and the gum business in Poland,” the spokesman told just-food. “Let me emphasise that, for the businesses that we are keeping, we believe that the combined company offers tremendous strengths and growth opportunities.”
The spokesman said the Wedel businesses up for sale are being operated separately from Kraft, as stipulated by the EU.
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By GlobalDataReports over the weekend said Kraft had appointed HSBC to advise on the sale of the Polish business. The reports claimed the US group had hired BNP Paribas to oversee the disposal of the Romanian units.
The Kraft spokesman, however, refused to be drawn on the names of the banks involved or on how long it would take to complete the disposals.
“We do not estimate how long this process may take, nor am I able to comment on speculation about the names of bankers involved in the sale of these assets,” he said.
