Cadbury Schweppes Plc (NYSE: CSG) will be spinning off its U.S. beverage unit soon after failing to find a buyer for the division, according to the company. Included in the spinoff will be popular brands Dr. Pepper and 7-UP, which will join other brands. The spinoff has been decided after seven months of fruitless searching by the British-based food giant to find a buyer for the unit.

Cadbury will soon be listing its U.S. drinks unit on the NYSE under a different ticker after finding that U.S. consumers are not choosing its products, opting apparently for competitive beverages from Coca-Cola, Inc. (NYSE: KO) and Pepsico, Inc. (NYSE: PEP) among other drinks. Investment analyst Martin Deboo said from London that "They (Cadbury) wouldn't refuse any sensible offer, but the uncertainty around credit markets has to clear before bidders will come forward." In other words, the credit crisis that has semi-gripped parts of the U.S. economy made potential buyers cinch up those purse strings. As a result, no serious bidders ever emerged over the summer, much to the chagrin of Cadbury's management.

At this time, Cadbury's U.S. drinks division is pegged at a $14 billion value, and although a spin-off is not exciting to anyone, it's required lest Cadbury continue to allow the suboptimal U.S. performance drag its overall financials down. The spinoff won't be completed before the second calendar quarter of 2008, according to Cadbury CEO Todd Stitzer. Earlier this year, Cadbury rejected an offer of about $13 billion from a private equity group comprised of the usual suspects: Blackstone Group LP, Kohlberg Kravis Roberts & Co. and Lion Capital LLP. Oh well -- it missed the boat and now has no buyers, so off to the NYSE it goes.