Suntory buys Lucozade & Ribena from GSK
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Suntory Beverage & Food has bought GlaxoSmithKlline’s Lucozade and Ribena brands for £1.35 billion (€1.6bn).
Print13 September 2013
The deal gives Suntory a major foothold in the UK market for its own brands as well as providing ease of distribution in other countries presently growing sales of these two brands.
Subject to regulatory approval the GSK purchase should be complete by the end of the year.
Having completed a IPO recently raising $3.9 billion, the cash-rich food & soft drinks division of the Japanese drinks conglomerate could be thinking of following up this purchase with that of AG Barr which failed to reach agreement with Britvic earlier this year.
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