GlaxoSmithKline (GSK) has announced its decision to sell Lucozade and Ribena for £1.35 billion in cash. The buyer, Suntory Beverage & Food Ltd (SBF) is a Japanese consumer goods company and the transaction is expected to be completed by the year-end.
David Redfern, Chief Strategy Officer, GSK, said, “Lucozade and Ribena are 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. We believe the future of Lucozade and Ribena is in good hands given SBF’s established beverages business, ambitious growth plans and also their recognition of the strong performance and capability of the GSK employees working on these products.”
Lucozade reached fourth position in the Checkout Top 100 Brands 2013, produced in association with Nielsen, while sales of both Lucozade and Ribena reached approximately £0.5 billion in 2012. SBF has an extensive product line-up and in 2012 was the number four supplier of soft drinks globally, and number two in Japan.
© 2013 - Checkout Magazine by Genna Patterson
