Tata eyeing Cadbury`s Snapple
30 June 2007
Mumbai: According to reports the Tata Group is likely to submit a bid for Cadbury Schweppes''s Snapple range of beverages.
The Economic Times reported today that The Tata Group was in talks with private equity funds Blackstone and Lion Capital to join them as a minor partner in the acquisition of the popular juice brand.
According to the report, the Tata Group is not interested in the entire beverages portfolio of Cadbury Schweppes, and wants the right to carve out Snapple if the Blackstone consortium emerges successful in its bid, the paper said.
The Tata Group''s "financial exposure in the deal is estimated to be just over $2 billion," it said.
Cadbury, the world''s largest confectionery company, is getting ready to separate its drinks arm, which includes Dr Pepper, 7UP, Snapple and Hawaiian Punch.
Sources have said at least two groups of private equity firms were bidding for the business and a US trade publication recently reported Coca-Cola may be interested in buying Snapple.