GlaxoSmithKline sells Lucozade and Ribena brands to Suntory for £1.35bn
British pharmaceuticals giant GlaxoSmithKline has announced the sale of its Lucozade and Ribena brands to Japanese firm Suntory in a £1.35bn deal.
The move Sees Suntory add to its existing Orangina and Schweppes brands and follows GSK’s decision to focus exclusively on its pharmaceuticals business.
Both Ribena and Lucoxade enjoyed combined sales of £600m last year but it is thought the drinks could grow quicker under different management.
The well-known drinks have a lengthy pedigree in the UK, dating back to the 1930’s in Ribena’s case and to 1927 for Lucozade, making them well known in Britain although less so overseas.
The sale is expected to be concluded by the end of the year.