Confectionery maker Cadbury, which has agreed to be acquired by US-based Kraft Foods, on Tuesday said India will remain a key market for its business.
Kraft would takeover British confectioner Cadbury Plc in a cash-and-stock deal worth about 11.9 billion pounds.
Declining to comment on the implications of the takeover on the Indian business, a Cadbury spokesperson said India would continue to be a key market. "It is too early to talk its implications it will have but India will be a key market and focus will definitely be there. It (Indian market) is already a significant contributor of Cadbury's global business," the spokesperson told PTI.
Having a presence in India for the last 60 years, Cadbury sells popular chocolate brands like Dairy Milk, 5-Star and Perk, among others.
Apart from chocolates, the firm sells products in the snacks, beverages, candy and gums categories. Cadbury has almost doubled its turnover to Rs 2,000 crore 9Rs 20 billion) in the last four years, growing at 20 per cent annually.
The combination of Cadbury and Kraft would have more than 40 confectionery brands across many countries. According to Kraft, the combined group "will have a leading position in developing markets, including in Brazil, Russia, India, China and Mexico".
