US food giant, Kraft, is set to be investigated by the City takeover panel about whether it made misleading comments at the time of its takeover of British confectioner, Cadbury.
Kraft, which made several hostile bids for Cadbury before shareholders finally agreed to a deal, initially said a takeover of Cadbury would secure UK jobs, while keeping open its Somerdale factory in Keynsham.
However, shortly after the £11.5 billion deal had been agreed, Kraft said the factory, near Bristol, would close with the loss of 400 jobs.
Amoree Radford, who leads a campaign to preserve Keynsham’s chocolate factory, told the BBC she had complained to the Takeover Panel along with the local Conservative candidate, Jacob Rees-Mogg.
“We know we can’t get the jobs back, but we want the authorities to learn their lessons so it doesn’t happen to another company later,” said Ms Radford.
Kraft completed its takeover of the 186-year-old iconic British confectioner on 2 February after a five-month battle.
Kraft, which is renowned for brands such as Kenco coffee and Oreo biscuits, is one of the world’s biggest food and beverage companies with annual revenues exceeding $37 billion.
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