Cadbury to take $203 million swig of Hawaiian Punch

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Cadbury Schweppes, London, said it will buy Hawaiian Punch from Procter & Gamble Co., Cincinnati, for $203 million in a deal slated to close May 1. The brand will be marketed via Cadbury's Dr Pepper/Seven Up and Motts units. P&G put Hawaiian Punch up for sale last November. Hawaiian Punch had net sales of $133.3 million for the fiscal year ended June 30, 1998. A Dr Pepper spokesman said it was premature to discuss ad plans for Hawaiian Punch. The brand has been at D'Arcy Masius Benton & Bowles, New York, since last month, when it was moved from sister MacManus Group shop N.W. Ayer & Partners as part of a $100 million consolidation of P&G brand assignments. Spending was less than $1 million last year, according to Competitive Media Reporting.

Copyright April 1999, Crain Communications Inc.

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