Ever-expanding Japanese beverage behemoth, Suntory, is the new owner of Lucozade and Ribena, which GlaxoSmithKline (GSK) has sold for £1.35bn (€1.6bn/$2.11bn) as it admits defeat in its internationalisation plans and trains its focus on its pharma activities.
Sources close to GlaxoSmithKline have confirmed that the sale of its iconic Lucozade and Ribena brands to expanding Japanese beverage giant, Suntory, will proceed for a sum closer to initial estimations of £1bn (€1.18bn/$1.55bn), but an industry analyst...
GlaxoSmithKline’s (GSK’s) brands Lucozade and Ribena are tempting targets for Far Eastern trade players such as Suntory Holdings that wish to establish a bridgehead in the UK, says an M&A expert.