Cadbury Schweppes said it has sold its Royal Crown (RC) Cola's international business and its private label concentrate supply agreement to Cott Corp for £68.4m sterling, which will be used to reduce borrowings.
The group said its RC International business sale relates to around 60 countries, with Israel and the Philippines being the principal markets. The transaction excludes RC Cola's operations in the US, Canada, Puerto Rico and Mexico.
The sale of the private label concentrate supply agreement relates to its operations worldwide and includes the disposal of RC Cola's concentrate production site in Georgia in the US, it added.
The beverages and confectionery manufacturer acquired RC Cola in September 2000 as part of its £986m sterling acquisition of Snapple Beverage Group.
AFP