Unilever nabs GSK nutrition business

Dec 03, 2018

After beating out potential bids from Nestle and Coca-Cola, Unilever has signed a deal to buy GlaxoSmithKline’s nutrition business, Horlicks, for $3.8 billion. 

The deal is the latest move in GSK’s effort to streamline its portfolio and shift its investments to pharmaceuticals. Hours before the Unilever deal was announced, GSK said it has agreed to buy cancer drugmaker Tesaro for $5.1 billion. 

For Unilever, the acquisition will allow the company to boost its food and drinks portfolio. In particular, the company is looking to leverage Horlicks’ market share of malted milk in India, as well as its health food and drinks products marketed in about 20 (mostly Asian) countries.

Under the terms of the deal, Unilever will purchase Horlicks for about $3.8 billion. 

Read the full Reuters report.  

Want to get news like this in your inbox?  Subscribe to our eNewsletter here!

Show Comments
Hide Comments

Join the discussion

We welcome your thoughtful comments.
All comments will display your user name.

Want to participate in the discussion?

Register for free

Log in for complete access.

Comments

No one has commented on this page yet.

RSS feed for comments on this page | RSS feed for all comments