Suntory buys Lucozade and Ribena for £1.35bn

Posted on 9 Sep 2013 by The Manufacturer

GlaxoSmithKline’s popular drinks brands Lucozade and Ribena have been sold to Suntory, a Japanese firm, for £1.35bn.

The deal was agreed following talks between Suntory and GlaxoSmithKline (GSK) last week. David Redfern, the GSK’s CEO said today that is the “right time to sell” Lucozade and Ribena which achieved combined sales of £500m last year. GSK’s overall profits dipped in 2012 and a strategic review has highlighted the need for greater focus…

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