Kraft Foods has signed an agreement to sell Cadbury’s E. Wedel-branded confectionery operations in Poland to Lotte Group for an undisclosed sum.
The sale, which is subject to customary regulatory approvals, includes the E. Wedel business, its related brands and a manufacturing facility in Warsaw, the firm said today (28 June).
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E. Wedel is one of a number of Polish and Romanian operations Kraft agreed to sell to win EU clearance for its GBP11.9bn (US$17.51bn) acquisition of Cadbury.
Around 1,000 Cadbury Wedel employees will transfer to Lotte Group.
Kraft Foods said it will keep the remaining Cadbury businesses in Poland, including the Halls brand and other non-E. Wedel-branded chocolate and sugar confectionery products sold in Poland and two manufacturing plants in Skarbimierz.
Subject to approval by the European Commission, Kraft Foods will also retain a third Cadbury plant in Bielany Wroclawskie, Poland.
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By GlobalDataThe divestiture of the Romanian business will be the subject of a separate announcement at a later date.
Tokyo-based Lotte Group is a multinational conglomerate with annual sales of around JPY3.55bn. It currently operates in a number of sectors, including food and confectionery, retail, and travel and tourism.
