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Blackstone, Lion in Orangina Schweppes sale
13 Nov 2009Orangina Schweppes changed hands again today as private-equity groups Blackstone and Lion Capital sold the business they bought from Cadbury to the Suntory Japanese drinks group in a deal thought to be worth about $2.6 billion (£1.6 billion).
Talks had been going on between the two sides for several months for the sale, which is one of the biggest exits made by private-equity players since the collapse of Lehman Brothers last year.
The business, which includes drinks like Orangina and Oasis, has sales of about 1 billion (£902 million).
The deal marks a big profit for Blackstone and Lion, who led a £1.3 billion buyout of the business in 2006. Cadbury bought it from Pernod in 2001.
Orangina Schweppes has thrived due to its focus on healthier-looking fruit-based drinks.
