P&G; Will Sell Crush to Cadbury Schweppes
Procter & Gamble Co. has agreed to sell its Crush International beverage operations to Cadbury Schweppes PLC, the British candy and beverage giant, for $220 million in cash, the companies announced Thursday.
Procter & Gamble, a Cincinnati-based consumer products company that operates worldwide, had been searching since May for a buyer for the soft drink line. The company purchased Crush in 1980 for about $50 million and then bought Crush’s Canadian operations in 1984 for an estimated $10 million.
Procter & Gamble said it was selling the Crush unit to devote more time and resources to other beverages, including Folgers coffee, Citrus Hill juices, and Sundor fruit juices and drinks.
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