Cadbury Heir Sells £27 Million Home to Launch Rival Company
In January, Kraft successfully concluded a hostile takeover of Cadbury, the English chocolate company that had been family-owned since 1824. The takeover was bitterly contested by Cadbury, and now one Cadbury heir is launching her own chocolate company in response. "I can't accept that Cadbury has gone to America. To a plastic cheese company," says Felicity Loudon. "I won't accept it. I want to start again. I want to make chocolate and I'm jolly well going to do it." Ms. Loudon, 61, is the great-great-grandaughter of Cadbury founder John Cadbury, a Quaker who started the business in Birmingham, England. To finance her new company, Loudon is selling her £27 million country estate.
Loudon and her husband have put their eight-bedroom, 100 acre Oxfordshire home, called Pusey House, on the market. It looks like Loudon could have put a small batch chocolate-making operation somewhere in on massive estate -- there's probably enough marble for tempering some lovely 70% -- but what do we know. Cheers to her for taking on Kraft (Philadephia Cream Cheese, Ritz Biscuits), which took over Cadbury in a deal worth about £11.9 billion. Chocolate wars are not cheap.