Kraft Foods, a North American food and beverage company, has signed an agreement to sell its Cadbury's Romanian business, Kandia-Excelent, to Oryxa Capital, an international investment fund, for an unrevealed amount. Kraft Foods will retain the Cadbury international brands, including Halls candy.

The Kandia-Excelent business comprises chocolate, soft cake and sugar confectionery divisions. The transaction includes sale of Kandia-Excelent brands such as Rom, Magura, Kandia, Laura, Sugus and Silvana and others, related trademarks and the Bucharest manufacturing facility. Nearly 530 Cadbury Romania employees work for Kandia-Excelent.

This sale happens in succession to the European Commission's decision to approve Kraft Foods' acquisition of Cadbury contingent on the divesture of the Cadbury Kandia-Excelent chocolate and soft cake business and Cadbury's E Wedel business in Poland, which was declared on June 28. Both these sales are dependent on the commission's approval.

Kraft Foods produces snacks, confectionery and quick meals. The company has presence in around 160 countries. The portfolio includes 11 brands: Oreo, Nabisco and LU biscuits; Milka and Cadbury chocolates; Trident gum; Jacobs and Maxwell House coffees; Philadelphia cream cheeses; Kraft cheeses, dinners and dressings; and Oscar Mayer meats.