UK confectionery and drinks group Cadbury Schweppes has agreed to acquire juice maker Nantucket Allserve from cranberry growers co-operative Ocean Spray Cranberries, the company announced this week.
Cadbury, the world's number three soft drink maker, said it had reached an agreement to buy Nantucket Allserve from Ocean Spray Cranberries, which had purchased a majority stake in the US company in 1997.
The transaction will bring the Nantucket Nectars juice brand alongside Cadbury's other non-carbonated brands, such as Snapple, Mistic and Orangina. The move is recognised by the industry as a bid by Cadbury to bolster its fast-growing, noncarbonated drinks business. Terms of the agreement were not disclosed.