Cadbury Schweppes has sold its Holland House brand of cooking wines to condiment firm Mizkan Americas for $37m in cash.

The company said the money would be used to pay off debts, which amount to more than $7.4bn.

The latest disposal forms part of the company’s strategy to focus on core businesses.

Last month it sold Us-based Grandma’s Molasses to B&G Foods for $30m. Next month the $2.57bn sale of its European drinks business to private equity houses Blackstone and Lion Capital is expected to be completed.