Cadbury Schweppes is reportedly planning to sell its American beverage business, including the popular brands 7-Up, Dr. Pepper and Snapple.

The British chocolate maker announced earlier this year (in March) that it would separate its confectionery and drinks business. The company did not specify at the time whether it would sell the beverage business or spin it off.

Friday was the deadline for suitors to make an offer, by then, Cadbury Schweppes had received at least three bids for its beverage business, whose worth is estimated at around $15.8 billion.

One of the bids came from a group of investors including Bain Capital Partners, Thomas H. Lee Partners and Texas Pacific Group.

Another bidding group included Blackstone Group, Kohlberg Kravis Roberts and Lion Capital, while a third bid came from a group led by Cott. Cott is a Canadian drinks manufacturer.

Lion and Blackstone acquired Cadbury's European beverage unit last year. On the other hand, if Cadbury accepted Cott’s offer, it would combine the world's third- and fourth-largest drink makers into a company, right behind industry giants Coca-Cola and PepsiCo.

Cadbury’s drink division is based in Plano in Texas and is one of its most profitable. Since the announcement of its sale, Cadbury's stock has risen 30 percent.

The company is expected to announce which bid it has chosen on Tuesday.