Cadbury Gets Organic
Cadbury Schweppes bought upscale organic chocolate maker Green & Black's, a London-based business that has set its sights on the United States.
Cadbury Schweppes paid about $37 million for Green & Black's, which launched in 1991 to support Mayan Indians in Belize, the Times of London reported.
Green & Black's five major directors collected more than $9 million in the deal, the London Daily Telegraph reported.
Chief executive William Kendall denied Green & Black's was reneging on its pledge to help cocoa-harvesting natives. Kendall said he and his management team would continue leading the standalone business.
"We are growing very fast in the U.S. at the moment, but we are doing it on a shoestring because that's all we've been able to do," Kendall said.
A spokesperson said Cadbury is "hugely committed to trading ethically and the right working practices, and the two businesses fit very well together."