Bim Bim of Cairo gives Cadbury a bite of the Middle East market
Thursday 13 February 1997
Though selling chocolate in Africa might sound like trying to sell ice lollies to Eskimos, Cadbury says the local market is growing strongly and that candy bars are popular snacks. "It's not baking hot there all the time,'' a spokeswoman said.
Founded in Cairo in 1961, Bim Bim is privately owned and the controlling family has asked that its identity not be disclosed.
Though the purchase price has also not been revealed, Bim Bim recorded sales of pounds 32m last year and has net assets of pounds 35m. Its most popular brands of chocolate bar are Gersy and Sando, while another is called Munny.
Bim Bim controls 13 per cent of the Middle Eastern confectionery market. Cadbury already has an Egyptian business but was keen to strengthen its position in a region of more than 120 million people.
"Ian Johnstone, managing director of Cadbury Schweppes said: "Bim Bim, in conjunction with Cadbury Egypt, will give us market leadership in both Egypt and the region and put us in a very strong position to benefit from further growth."
The move comes a day after Cadbury Schweppes, under its new chief executive John Sunderland, confirmed it had completed the pounds 623m sale of its joint venture Coca-Cola bottling plants.
In a separate move yesterday Cadbury Schweppes announced that it was to market to British consumers a line in quality continental European chocolate bars made by Poulain of France. It has launched three bars from Poulain - in dark, plain and vanilla-flavoured white chocolate - aimed at the serious chocolate lover.
"Consumers have become more accustomed to continental tastes and have consequently developed a more sophisticated palate,'' Cadbury said.
Cadbury shares closed 3.5p lower at 478.5p.
- 1 What happens to your body when you give up sugar?
- 2 Ed Miliband less influential than One Direction's Louis Tomlinson in official Doncaster power list
- 3 Japanese island overrun with cats after population explodes
- 4 Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
- 5 Have sex with your iPad thanks to the new sex toy no-one asked for
California teacher appears to have hanged herself in her classroom
The City of the Monkey God: Archaeologists claim to have found city lost for 1,000 years in remote Honduran jungle
Japanese island overrun with cats after population explodes
Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
Bubonic plague-carrying fleas found on New York City rats
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Ukip would cut billions from Scottish budget to fund English tax cuts
End of the licence fee: BBC to back radical overhaul of how it is funded
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
iJobs Money & Business
£15000 - £18000 per annum: Recruitment Genius: This is a great opportunity for...
£50000 - £60000 per annum + Excellent Salary: Austen Lloyd: An outstanding new...
£20000 - £21000 per annum + uncapped commission: SThree: As a graduate you are...
£18k + Uncapped Commission (£25k Y1 OTE): Guru Careers: We are seeking an Inbo...