Market intelligence, trend analysis and forecasts for the Food and Drink industries across the regions

Companies / Nigeria

Cadbury Scandal Highlights Corruption Issues

November 2006 | Company News Alert

Cadbury Nigeria, a separately listed subsidiary of Cadbury Schweppes, has announced the launch of an independent investigation into the overstatement in its financial position relating to the current and previous years. In operation since 1965, Cadbury Nigeria is the market leader in sugar confectionery, gum and food beverages in that country, with an overall market share of 58%. Earlier this year, Cadbury Schweppes increased its shareholding in Cadbury Nigeria, investing GBP19.7mn (US$34.33mn) in order to gain a narrow majority of 50.02%, from the 46.4% it previously held. Cadbury Schweppes then appointed a financial director to oversee the transition from associate

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