Those benefiting from this reduced competition could include Group Danone, Philip Morris, Nabisco and Kraft Suchard.

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He was the first to jump to the defence of Danone, a French food group, when rumours started of a takeover by the American giant, PepsiCo.

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Nestl and Danone belong in international Continental staples, while Diageo and Cadbury Schweppes are part of a separate group of big U.K.-based staples companies.

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