Brexit

Mondelēz prepares for a no-deal Brexit by stockpiling chocolate

By Anthony Myers contact

- Last updated on GMT

Cadbury's owner Mondelēz International is stockpiling supplies in the UK in case of a 'hard Brexit'
Cadbury's owner Mondelēz International is stockpiling supplies in the UK in case of a 'hard Brexit'

Related tags: Brexit

Company’s European president warns UK is ‘not self-sufficient in terms of food ingredients’.

The prospect of a no-deal Brexit remains a distinct possibility as negotiations continue between the British government and the EU over the UK’s exit from Europe on 29 March 2018.

Key industries are already looking to stockpile supplies, which in the case of the medical profession, includes drugs and medical devices.

Mondelēz International, owner of Cadbury’s, has said it is also stockpiling ingredients, chocolates and biscuits in case of a no-deal Brexit.

According to The Times newspaper Hubert Weber, president of Mondelēz Europe, said the UK was “not self-sufficient in terms of food ingredients​” and confirmed the measure as part of contingency plans for a ‘hard Brexit’.

He said: “Like the whole of the food and drink industry in the UK, we would prefer a good deal that allows the free flow of products, as that would have less of an impact to the UK consumer​.

However, we are also preparing for a hard Brexit and, from a buffering perspective for Mondelēz, we are stocking higher levels of ingredients and finished products, although you can only do so much because of the shelf life of our products​.

Contingency plan

We have a contingency plan in place to manage [a hard Brexit], as the UK is not self-sufficient in terms of food ingredients, so that could be a challenge​.”

He also warned that shoppers may face higher prices and less choice if a deal were not agreed and added that he wished Britain was “at a different stage [in negotiations with the EU] at this stage​”.

Related topics: Business, Brexit, Confectionery

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