GSK to sell off Lucozade and Ribena brands

Pharmaceutical group GlaxoSmithKline has announced that it is putting two of its biggest brands, Lucozade and Ribena, up for sale in a bid to raise as much £766m.

The move follows a strategic review of its operations with reports of ‘immediate interest’ already being registered by investment banks and follows a 35% fall in fourth quarter net profits at the group to £839m.

Both brands boast a long and successful heritage, particularly in Europe where they bring in around £400m a year.

Lucozade was launched in 1927 with Ribena entering the market 10 years later.

GSK chief executive Andrew Witty said: “No decisions have been taken or options ruled out – we could increase investments in certain parts of the world, find a partner or divest the products.”

John Glenday

John Glenday is responsible for compiling The Drum's daily morning bulletin and ensuring that overnight breaking news is covered while you're still brushing your teeth. Can also make a mean cup of tea.

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