Cadbury India now named Mondelez India Foods

Mondelez-InternationalNew Delhi, April 21 : The world's largest snacks compamy Mondelez International Monday said it has changed the name of its Indian subsidiary Cadbury India Limited to Mondelez India Foods Limited.

The change in name of Cadbury is in line with the gradual changeover of the name of all subsidiaries of Mondelez International globally.

"With the change in name of the company to Mondelez India Foods Limited, we conclude the process of transition that began over two years ago," said Manu Anand, managing director of Mondelez India.

Andhra Pradesh to host Cadbury's largest plant in Asia-Pacific

Andhra Pradesh to host Cadbury's largest plant in Asia-PacificHyderabad, Nov 27 : Cadbury is setting up its largest manufacturing plant in the Asia-Pacific in Andhra Pradesh.

The plant is coming up at Sri City in Chittoor district with the first phase expected to become operational by mid-2015 with an investment of Rs. 1,000 crore.

Sri City is a special economic zone.

Cadbury India Wednesday signed a Memorandum of Understanding (MoU) with the Government of Andhra Pradesh. Chief Minister N. Kiran Kumar Reddy also laid a "symbolic" foundation stone for the project in Hyderabad.

Cadbury may face criminal proceeds for excise duty evasion

Cadbury may face criminal proceeds for excise duty evasionChocolate giant Cadbury Plc could be slapped with criminal proceedings for evading excise duty, an excise department official familiar with the developments said.

The Directorate General of Excise & Customs Intelligence recently issued a show-cause notice against Cadbury, accusing the company of using a nonexistent factory to avoid taxes to the tune of Rs 252 crore.

Cadbury develops heat-tolerant chocolate

Cadbury develops heat-tolerant chocolateConfectionery giant Cadbury has developed a new heat-tolerant chocolate which is capable of withstanding temperatures of up to 40 degree Celsius (104F).

Researchers at Cadbury's Bourneville, UK-based research & development (R&D) facility have claimed that their new melt-proof recipe for the popular cocoa treat could stay completely solid even when exposed to temperatures as high as 40 degree Celsius for over three hours.

The claim was made in an 8,000-word patent application filed by Cadbury to patent the method for making a temperature-tolerant chocolate.

Income-tax department detects two cases of tax evasion by Cadbury India

Income-tax department detects two cases of tax evasion by Cadbury IndiaThe income-tax department has dragged Cadbury India Ltd under its scanner for alleged two cases of tax evasions, Minister of State for Finance S. S Palanimanickam told Parliament.

In a written reply to Rajya Sabha on Thursday, Palanimanickam said that the Directorate General of Central Excise Intelligence had detected two cases of tax evasion by Cadbury India.

SEC investigating Cadbury India

United States finance regulator is probing bribery charges against Cadbury India. Kraft Foods Inc. revealed in its regulatory filing that US Securities and Exchange Commission (SEC) has opened an investigation against company for bribe charge in its India operations.

The company said in the filing that it has received an enquiry from SEC about its Cadbury India plant. Cadbury has its manufacturing plants in India in states of Maharashtra, Madhya Pradesh, Karnataka and Andhra Pradesh. SEC is considering a potential violation of Foreign Corrupt Practices Act on the company.

Protests make Cadbury deal sour

Cadbury-Staff-ProtestA huge public outcry has been reported over the jewel of British business industry, Cadbury's £11.4 billion sale to US-based Kraft Foods.

The outcry persuaded the Labor Party to draft a "Cadbury Law" in order to protect the takeover.

The selling of British companies to foreign bidders has become a regular practice in the recent years. The recent deals include Corus being sold out to India's Tata Steel, Spain's' Santander takeover of Abbey National, Scottish and Newcastle buying out Carlsberg and Heineken, to name a few.

Kraft's Cadbury factory closure prompts complaint

Cadbury-KRAFTKraft is facing a fresh deal of controversies over Somerdale plant of Cadbury. The City takeover panel has informed that they have received allegations against the Kraft Foods.

There have been issues over Kraft Foods deceptive comments during its take over of Cadbury. Earlier Kraft has given a statement that the Somerdale plant of Cadbury could be saved. But after that Kraft Foods purchased the UK firm, Cadbury by £11.5 billion. Then the company decided to shut down the operations of the Somerdale plant. As a result, the jobs of 400 employees are now at stake.

Triple blow for Cadbury staffs

Cadbury-Kraft-FoodsThe Kraft Foods deal of Cadbury Inc. has become a hitch for the staff. The Kraft Foods is all set to close its British confectioner's operations after the final salary pension scheme to its new members.

Hence the Cadbury staff won't be allowed to take advantage of the scheme. Apart from this, the company has announced to slash down 150 jobs and the current staff has been asked to increase their contribution towards the company.

Kraft has plans to expands its business in India and other developing markets

Kraft has plans to expands its business in India and other developing marketsKraft Foods, which recently acquired the British giant Cadbury, believes that by acquiring Cadbury it will be easy for the company to expand its footprints in India as well other developing markets. Kraft, the U. S. confectionery giant, has now become the world's biggest confectionery company by owning Cadbury.

Kraft and Cadbury confirm 'finalising' takeover

London, Jan 19 : Britain's oldest chocolate maker Cadbury and US food giant Kraft Foods confirmed Tuesday that they were "finalising" the terms of a takeover deal reported to be worth 11.5 billion pounds ($19 billion).

In a statement to the London stock exchange, the two companies said an official announcement of the historic deal would be made shortly.

Earlier, the BBC reported that Cadbury, the iconic British confectioner founded 180 years ago, had agreed to the improved offer after a "frantic night of negotiations".

Cadbury had initially bitterly resisted the approaches by the US giant, saying it "seriously undervalued" the British firm.

Berkshire Against Kraft’s New Proposal for Cadbury

Cadbury rejects Kraft's takeover offerIn a major move, Buffett, CEO of Berkshire Hathaway, has opposed Kraft’s proposal of issuing shares of $16 billion to Cadbury.

Berkshire Hathaway owns 138 million shares of Kraft, which gives it 9.4 percent stake in the Northfield, Ill..

Kraft will get $3.7 billion from the selling of North American frozen pizza business to Nestle. This amount will be added in the offer of Cadbury, but Cadbury rejected this, calling it as "derisory".

Cadbury makes special festive chocolate for Queen

Cadbury makes special festive chocolate for QueenLondon, Dec 23 : Cadbury bosses have revealed that they make a chocolate bar especially for The Queen at Christmas.

While the chocolate makers have kept the recipe a secret, it is believed that they create a dark chocolate bar with a high percentage of cocoa solids for the Royals.

Cadbury makes three of four batches a year and just before Christmas sends a series of bars to Buckingham Palace, Windsor Castle and Sandringham, according to The Daily Mail.

Cadbury rejects Kraft's takeover offer

Cadbury rejects Kraft's takeover offerLondon, Dec 14 - Britain-based global confectionery and processed foods major Cadbury Monday rejected the $16.7-billion hostile takeover bid by Kraft of the US, saying it "substantially" undervalues the company.

"Cadbury is an exceptional business worth much more than the offer put forward by Kraft," said company chairman Roger Carr in a statement to shareholders.

Kraft's $16.7 billion bid denied by Cadbury

Kraft's $16.7 billion bid denied by Cadbury Monday saw Kraft Foods Inc coming up with a 10.2 billion pound ($16.7 billion) takeover of Cadbury PLC, an offer which was instantly declined by the British maker of chocolate, gum and candy.

The offer was rejected because, as per Cadbury, it undervalued the company. Cadbury also specified confidence in its "standalone strategy and growth prospects as a result of its strong brands, unique category and geographic scope."

Meanwhile, Kraft was not disappointed and said that it will keep on looking for a transaction which Cadbury's board could support.

Syndicate content