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LONDON (AP) - Cadbury Schweppes PLC said Tuesday it plans to close 15 percent of its candy factories by 2011, cutting about 7,500 jobs, and will likely sell the U.S. unit that makes 7-Up, Dr Pepper and Snapple soft drinks.
The company had announced in March that it planned to separate its drinks and candy businesses — under pressure from investors led by U.S. billionaire Nelson Peltz — but had not indicated whether it would sell the beverage business or spin it off to shareholders.
While the company said Tuesday that it was still pursuing "a twin track process," it appeared that the beverage business would be sold.
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