Cadbury Nigeria Plc

From Wikipedia, the free encyclopedia

Cadbury Nigeria Plc is a food, sweets and drink company headquartered in Lagos, Nigeria and traded on the Nigerian Stock Exchange. The company is majority owned by Mondelez International. The firm's flagship product is Bournvita and its competes with brands from Nestle, GlaxoSmithKline and Promasidor. [1]

History[]

Cadbury Schweppes history in Nigeria dates back to the 1950s when it began sourcing for cocoa and also importing bulk products and repacking it into tins for sale in the country. Later finding increasing market opportunities in the country, the group set up a manufacturing facility in January 1965.[2]

The firm became a publicly quoted company in 1976 when Cadbury Schweppes sold 20% of its interest in the firm. The firm's investment in the integration of its supply chain led to the establishment of a sorghum conversion plant and Stanmark Industries in Ondo, a cocoa processing plant. Stanmark provides raw materials for its key product, Bournvita and is a source of foreign currency through exportation of cocoa products. In 2006, the subsidiary processed 15,000 tonnes of cocoa beans into cocoa butter, cocoa liquor and cocoa powder.

In 2006, the firm released a statement disclosing financial misstatements in a number of previous annual reports.[3] Immediately after the disclosure, the CEO and finance director resigned their positions. The firm later announced it will be taking exceptional item charges on its balance sheet as a result of the misstatements.[2]

Brands[]

The firm's major products are Bournvita and Tom Tom. The former was introduced to the country in 1960 and the latter in 1970. Following the establishment of a manufacturing plant in 1965, the firm spent funds on advertising Bournvita, and in the process increased the market share of the brand. Bournvita later became a market leader in its category. To improve nutritional needs, in 1994, the firm included essential vitamins and minerals in Bournvita.[3]

Other products of the company include Cadbury Eclairs, Malta sweets, Trebor and Peppermint original.[3] Beverages contributed 58% of its revenues in 2018 and sweets contributed 26%.[4] In addition, it markets Creme Rollers, Chocki, Hall Take 5 and Bubba Gum.[2]

References[]

  1. ^ Cadbury Nigeria in Hot Drinks (Nigeria). Euromonitor International. 2017
  2. ^ a b c James., George, Olusoji (2011). Impact of culture on the transfer of management practices in former British colonies : a comparative case study of Cadbury (Nigeria) Plc and Cadbury Worldwide. [United Kingdom]: Xlibris. pp. 109–119. ISBN 9781456833770. OCLC 760937386.
  3. ^ a b c Superbrands (2007). "Cabdury Nigeria" (PDF).
  4. ^ "Cadbury Nigeria rebounds to profit on higher sales, cost cutting". Beverage Industry News (NG). 2018-10-24. Retrieved 2018-11-02.

External links[]

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