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“Cadbury Talks Up Emerging Market Growth,”
by Jenny Wiggins and Adam Jones, Financial Times, September 16, 2009.
“Todd Stitzer, Cadbury chief executive, delivered a bullish assessment of the company’s business strategy to investors , emphasising its growth prospects in emerging markets as it resists Kraft’s £10.2bn ($16.8bn) cash-and-shares takeover approach. Andrew Wood, a Bernstein research analyst who hosted Mr. Stitzer at a Sanford Bernstein conference in London on Wednesday, said: ‘He was singing the successes [of Cadbury] rather than being cautiously optimistic. It was a glimpse of how they will defend themselves if required.’ The British company went on the counter-offensive last weekend, describing Kraft as a slow growing conglomerate and an ‘unappealing’ suitor. Mr. Stitzer did not outline a new growth strategy for Cadbury, but he explained how the group planned to expand in emerging markets—now 40 percent of total revenues—and why it believed its distribution through small retail outlets gave it [a competitive] advantage.”
Over whom might Cadbury’s distribution through small retail outlets provide it with a competitive advantage?
(Note: Your answer should have a minimum of 5 words and a maximum of 50 words. Once submitted, your response cannot be edited.)
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