JKR

Here in agency-land and on our close neighbour marketing-world we generally take it as read that the rare brands who have true values and equities are in possession of something priceless. But Cadbury’s message to its shareholders (urging them to vote against Kraft’s hostile takeover partially on the basis that such values might be lost) is an interesting test case for whether such an intangible asset holds worth for the typical investor. Cadbury are making an emotional pitch – that their Quaker roots are manifest in being a “good” business (one who have sold 40m Fairtrade Dairy Milk bars since the switch in July, quadrupling global sales of Fairtrade cocoa). History, soul and legacy, it seems to be argued, should not be cheaply sold for short term (and arguably undervalued) gain.

As someone who appreciates brands, particularly uniquely British ones, it’s easy to see the merit in this pitch. But the choice will ultimately lie with hard headed shareholders. It’s going to be fascinating to see if they perceive a worth in the brand’s values which makes financial sense to preserve. Let’s hope so.

Goodness is a consistent Cadbury message