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Unilever buys GSK Asian health drinks arm for 3.3 bn euros

AFP  |  The Hague 

Anglo-Dutch said Monday it is buying GlaxoSmithKline's drinks portfolio in for a total of 3.3 billion euros (USD 3.7 billion), including iconic night-time hot

The deal includes GSK's in "India, and 20 other predominantly Asian markets... and is aligned with (our) strategy of increasing presence in food categories and in high-growth emerging markets," said in a statement.

"GSK's drinks portfolio is the undisputed leader... in India, with iconic brands such as and Boost and a product portfolio supported by strong nutritional claims," the and Rotterdam-based group added.

has a long history in -- which accounts for almost 90 per cent of the GSK arm's turnover in -- having been introduced there in the 1930s.

"Horlicks products have been an everyday staple in South Asian households across generations," said, adding GSK's health drinks portfolio has grown by double digits in the last 15 years.

"Despite this, the category still remains under-penetrated in India," it said.

"Unilever is well positioned to further develop the market given its reach and capabilities," it added.

Unilever, which employs some 169,000 people around the world, owns more than 400 household brands, including Knorr soups, Lipton, Magnum and Marmite.

Monday's acquisition is the first since Unilever chief announced his retirement at the helm of the giant last week, after a failed plan to move the firm's headquarters from to the

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, December 03 2018. 16:45 IST