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Unilever swallows GSK's Indian Horlicks business for $3.8 billion

Reuters  |  LONDON 

By Ben HirschlerLONDON (Reuters) - Unilever is to buy GlaxoSmithKline's Horlicks nutrition business for $3.8 billion, boosting the Anglo-Dutch group's position in India by adding the popular malted drink.The deal, announced on Monday, increases the consumer goods giant's reach in one of the world's fastest-growing economies and marks a notable addition to the portfolio by outgoing Chief Executive Paul Polman, who steps down in January.Even though many of Unilever's recent acquisitions have focused on beauty and personal care products, buying Horlicks is a rare opportunity for Unilever to ...

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First Published: Mon, December 03 2018. 20:08 IST
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