Last drinks for GSK
September 13, 2013
GLAXOSMITHKLINE earlier this
week confirmed the £1.35 billion
(A$2.3 billion) sale of its nutritional
drinks brands Lucozade and Ribena
to Japanese consumer goods
company Suntory Beverage & Food
Limited.
The companies said it’s expected
that the transaction will be finalised
by the end of the year, with the
move following a strategic review
of the drinks brands which was
initiated in February this year.
“GSK’s Consumer business has
been increasing its focus around a
core portfolio of healthcare brands,
with a particular emphasis on
emerging markets,” according to a
statement.
Annual sales of the two brands
were about £500m in 2012.
Suntory will acquire global rights
to both brands as well as GSK’s
Coleford manufacturing site in the
United Kingdom.
In Nigeria GSK will continue
to manufacture and distribute
Lucozade and Ribena under licence
from Suntory Beverage & Food.
GSK chief strategy officer, David
Redfern, said that Lucozade and
Ribena were “iconic brands that
have made a huge contribution
to GSK over the years, but now is
the right time to sell them as we
increase the focus of our Consumer
Healthcare business and execute
the delivery of our late stage
pipeline of pharmaceuticals and
vaccines”.
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