Cadbury Schweppes which is one of the world's largest and leading confectionery manufacturers has decided to sell off its UK popcorn business, Monkhill.
It is basically a London based firm. This step is taken after it planned to dispose off its non-core assets.
The sale of Monkhill would include four manufacturing plants and one distribution depot in the UK.
In the beginning of April Cadbury agreed to sell its South African business, Bromor Foods, to Tiger Brands for $188.5 million.
This would include the sales of the well known drink brands such as Oros and Energade.
It also covers the sales of Halls, Monis and Roses. The Monkhill unit produces the popular UK popcorn brand Butterkist.
Cadbury has been manufacturing Butterkist in the UK for over 67 years. In the US there were popcorn machines carrying the same name in the1918.
In 2005, revenue from the popcorn unit was approximately $139.5 million. Cadbury said that the sales of Monkhill would be finalized by the end of 2006.