7 February 2013 - 10:28am | posted by | 2 comments

GSK to sell off Lucozade and Ribena brands

GSK to sell off Lucozade and Ribena brandsGSK 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.”

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Comments

7 Feb 2013 - 14:25
EvolutionDezine
42
comments

Oh dear 2 more iconic British brands will be sold off, probably to foreign buyers. But why? GSK made a profit of £839m not a loss.

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8 Feb 2013 - 18:09
Bristolmary's picture
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comments

Both brands are made/bottled in a large factory near to me in the Forest of Dean. It is one of the largest employers in the area and I hope that they keep the factory running and that this won't lead to more jobs being sent abroad. But as ED above comments, GSK made a profit of over £800m why would they want to sale? I can only assume it's linked to the fact that though they made a profit it was down for the 4th quarter.

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