Cadbury owner stockpiles products, prepares for hard Brexit - report

Mondelez would prefer a ‘good Brexit deal’, European division president says

Mondelez International is said to be stockpiling ingredients in advance of Brexit. Photograph:  Simon Dawson/Bloomberg

Mondelez International is said to be stockpiling ingredients in advance of Brexit. Photograph: Simon Dawson/Bloomberg

 

Mondelez International, the owner of Cadbury brand, is stockpiling ingredients, chocolates and biscuits in case of a no-deal Brexit, the Times of London reported on Tuesday, citing the president of Mondelez’s European division.

The United Kingdom is due to leave the European Union on March 29th, but there is no full exit deal and Britain’s ruling party is split over Prime Minister Theresa May’s “Chequers” plan to largely accept a “common rulebook” over goods.

Mondelez would prefer a good Brexit deal that would allow free flow of products, the Times of London quoted Hugh Weber, the president of Mondelez Europe, as saying.

“However, we are also preparing for a hard Brexit and ... we are stocking higher levels of ingredients and finished products,” Mr Weber said, according to the report.

The company has a contingency plan in place as UK is not self-sufficient in terms of food ingredients, the paper reported.

Mondelez was not immediately available for comment outside regular business hours. – Reuters