LONDON (AP) — Cadbury Schweppes PLC, the maker of Dairy Milk chocolate, said Monday that Nelson Peltz's Trian Group raised its stake in the business to 4.5 percent.
Trian previously held 3.47 percent of Cadbury, the company said in a statement. Cadbury did not disclose the price paid for the stake.
''Cadbury Schweppes' understanding is that the instrument through which the increased interest is held is not reportable and it has not received formal notification of the increase in writing,'' the company said.
Trian is a group of hedge funds run by billionaire Nelson Peltz and has holdings in food producers such as H.J. Heinz Co. and fast food restaurant chains such as Wendy's International.
Cadbury shares gained 2 percent to 645.5 pence ($13.11) on the London Stock Exchange.