Cadbury Schweppes has bought US confectionery group Adams from pharmaceutical giant Pfizer for £2.7bn including debt.

The deal will make Cadbury Schweppes joint leader in overall confectionery and number two in chewing gum with a 26% market share.

Adams’ portfolio includes top chewing gum brands such as Dentyne, Chiclets and Trident, and the bubble gum brands Bubblicious and Bubbaloo.

The British soft drinks and confectionery giant will also gain Halls cough sweet brand and breath freshners including Certs and Clorets.

Ceo of Cadbury Schweppes John Sunderland said: “Adams brings powerful brands, access to new geographies and significant scale in the fastest growing confectionery sectors.

“Cost and revenue synergies, and the opportunity to drive the business within a global confectionery group, will create significant value for our shareowners.”