NORTHFIELD, Ill. (AP) — Kraft Foods Inc. has agreed to sell a Romanian confectionary business it acquired when it bought Cadbury to the international investment fund Oryxa Capital.
The food maker did not disclose terms of the deal for Cadbury's Kandia-Excelent business, which makes chocolate, soft cake and confections.
The company, based in Northfield, Ill., said it had to sell the business and another one in Poland as part of the European Commission's approval of its $19.5 billion buyout of Cadbury. The company announced the sale of its business in Poland, Cadbury's E. Wedel, late last month to a Japanese candy maker.
The sale announced Wednesday includes the brands Rom, Kandia, Laura, Magura, Sugus and Silvana, trademarks and a facility in Bucharest. Some 530 Cadbury Romania employees work for Kandia-Excelent. The company said it will retain the Cadbury international brands, such as Halls candy.
The deal is subject to regulatory approvals.
Kraft acquired Cadbury, the British candy maker, in February.