Cadbury Schweppes has acquired the remaining 55% stake in Dr Pepper and Seven Up Bottling Group for $353m (£198m).

Cadbury, which already holds a 45% stake in the group, said that it would acquire a 53% stake from the Carlyle Group for $334m (£187m) and then on completion, the remaining shares for $19m.

It added that it has also entered into an agreement in principle to acquire the All American Bottling Company for approximately $65m.

Todd Stitzer, CEO of Cadbury Schweppes, said: “The acquisition is strategically consistent, financially attractive and value enhancing. It gives us greater control over the distribution of our brands; improved operating efficiencies and customer service; and greater access to faster growing water and energy drinks.”