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09/09/2013
GSK Sell Lucozade And Ribena Brands
GlaxoSmithKline (GSK) has sold the Lucozade and Ribena brands to Suntory for £1.35bn.
It is understood that GSK took the decision to sell the soft drinks brands to the Japanese company, who already own Orangina Schweppes, in order to concentrate on their pharmaceuticals business.
A strategic review of the Lucozade and Ribena brands found that despite combined profits of £600m last year, the brands would grow better under different ownership.
(MH/JP)
It is understood that GSK took the decision to sell the soft drinks brands to the Japanese company, who already own Orangina Schweppes, in order to concentrate on their pharmaceuticals business.
A strategic review of the Lucozade and Ribena brands found that despite combined profits of £600m last year, the brands would grow better under different ownership.
(MH/JP)
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