Cadbury’s Mott’s to Buy Mauna La’i Brand

Cadbury Schweppes, the third-largest soft-drink maker, said its Mott’s apple products unit agreed to buy the Mauna La’i juice brand from Mauna La’i Tropicals for an undisclosed price. Mott’s, the largest U.S. producer of applesauce and apple juice and the maker of Hawaiian Punch, expects the acquisition to close by midsummer. After the purchase, the Mauna La’i line would be produced at Stamford, Conn.-based Mott’s factories. The transaction doesn’t include any manufacturing sites or equipment. Mauna La’i, with 1999 sales of more than $20 million, sells Hawaiian tropical juice drinks to large grocery store chains. London-based Cadbury’s American depositary receipts, each representing four ordinary shares, rose 6 cents to close at $26.31 on the NYSE.