Kraft sells Cadbury Romanian unit

Kraft Foods Inc., the world's biggest confectioner after its takeover of Cadbury Plc, agreed to sell Cadbury's Kandia-Excelent confectionary unit in Romania to Oryxa Capital, as required by European regulators.

Northfield-based Kraft will retain the Cadbury international brands, which include Halls candy, and sell the Kandia-Excelent brands and trademarks, as well as a factory in Bucharest, to investment fund Oryxa, it said today in a statement. Kraft didn't disclose the terms of the deal. About 530 people are employed at the Kandia-Excelent chocolate and cake business.

Kraft said last month it would sell the E. Wedel unit in Poland to Japan's Lotte Group, in line with terms imposed by the European Commission relating to Kraft's 11.7 billion-pound ($17.7 billion) acquisition of Cadbury in January.

The Polish and Romanian businesses account for about $200 million in annual revenue, Kraft Chief Executive Officer Irene Rosenfeld said in an interview in February.