Year of reckoning for India Inc: HUL-GSK's Rs 317-bn deal a market booster

Unilever kept its sights at its target despite the odds stacked against the deal with GSK Consumer

The fight for the nutrition business of GlaxoSmithKline (GSK) Consumer, including brands Horlicks and Boost in India, was never going to be easy, given its size and valuation. At Rs 317 billion, Hindustan Unilever (HUL) earlier this month said was merging GSK Consumer with it, making the former the largest food company in the country with a turnover of Rs 107 billion. The development came as parent Unilever globally said it was acquiring Horlicks and other health food drinks from GSK in over 20 markets for £ 3.1 billion.

The transaction had three parts including GSK picking up a 5.7 per