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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.”

Source: guardian

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