Cadbury Schweppes a step closer to selling drinks arm

Confectionery and drinks giant Cadbury Schweppes today looked a step closer to selling its drinks arm as a Canadian firm emerged as a potential bidder for the business.

Cott Corporation, one of the world’s largest providers of own-brand drinks to retailers, admitted it was “exploring the potential benefits of participating in possible industry consolidation” after mounting speculation suggested it was plotting a bid for Cadbury’s drinks division.