Cadbury did not disclose the price paid for the stake, but said that the company's 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." Peltz first bought a controlling stake in Cadbury in June this year, and since that time the company has carried out some big organisational changes, including the much talked about demerger of the US beverage business. Cadbury has also made recent acquisitions in the Turkish and Romanian confectionery markets, and restructured operations in Europe, Middle East and Africa into two. Company spokesperson Katie Bolton said, however, that the media should not draw too many conclusions from the announcement. "Cadbury's view is that Peltz has generally been supportive of the company and its moves," she said. "He has not in fact commented on Cadbury much at all since March." Peltz's Trian group has holdings in several global food companies, including Heinz and Kraft. After Peltz purchased a three per cent in Kraft, the company both sold its Post cereals brand to Ralcorp, and recently acquired the biscuit division of Danone. UK-based Cadbury is currently the largest confectionery company in the world, with an 11.6 per cent share of the Western European market alone, according to market analysts Euromonitor. According to the International Herald Tribune, Cadbury shares today gained 2 per cent to 645.5 pence (€8.945) on the London Stock Exchange.
