Cadbury Schweppes announces that is has bought Green & Black's, the UK's fastest growing confectionery brand*, in a move that will enable continued growth of the luxury organic chocolate brand and further its international expansion.
Cadbury Schweppes, which acquired a minority 5% stake in the company in 2002, has confirmed that Green & Black's will be run as a standalone business. Green & Black's founder, Craig Sams, will continue his role as President and the management team, led by Chief Executive William Kendall and Finance Director Nick Beart, who acquired the majority of the business from Sams in 1999, will remain unchanged.
Craig Sams, President of Green & Black's and Chairman of The Soil Association said:
"I am delighted that my vision for premium, high cocoa organic chocolate is entering the next stage of its successful evolution. Our businesses share a commitment to ethical values and I am confident that, with the involvement of Cadbury Schweppes, we will now be able to bring these positive messages to a much wider international audience."
William Kendall, CEO of Green & Black's said:
"The premium quality chocolate market is growing fast globally and Green & Black's taste combined with its organic and ethical integrity puts it in pole position to benefit from this. With the support of Cadbury Schweppes we will continue the exceptional growth of the brand and establish Green & Black's internationally."
Todd Stitzer, CEO of Cadbury Schweppes said:
"We are incredibly impressed with the success the Green & Black's team has achieved and welcome them into the Cadbury Schweppes family. Our businesses share a passion for quality products and ethical values so this is a very natural fit."
* (AC Nielsen MAT March 05, Sterling Sales, All Outlets)