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British confectionery and soft drinks group Cadbury Schweppes agreed on Tuesday to buy Brau und Brunnen's 72 per cent interest in the Apollinaris & Schweppes joint venture in Germany for 151 million euros.
The deal will give Cadbury 100 per cent control of the joint venture, which was formed in 1991, and sells brands such as Apollinaris Heppinger and Big Apple soft drinks brands.
Cadbury said in a statement the purchase price will be funded from its own resources and the deal will be earnings positive from year two. Completion of the deal is anticipated in December 2002.
