Thu, 07 Feb 2013 | BUSINESS SALE
GlaxoSmithKline (GSK) is investigating a sale of its drinks businesses, Lucozade and Ribena.
After announcing its plans for a strategic review of its business, the pharmaceutical group received immediate interest from investment banks regarding the potential sale of some of its more successful brands. Once the deal has been finalised, estimates suggest that the brands could sell for around £766 million.
GSK announced the review of its businesses alongside figures for the fourth quarter, which showed a 35 per cent decline on the previous year's final quarter.
Bankers were quick to signal their interest in the potential sale as Sir Andrew Witty, chief executive at GSK, quipped when asked how long it had taken for bankers to get in touch: “I'm surprised it took as long as 18 minutes.”
Reports from Reuters state that he added: “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.”
However, the strong success of the brands is pushing the company towards the business sale option.
Both Lucozade and Ribena are firmly rooted in the European market, with Ribena clocking up most of its sales in the home UK market. This is in contrast to some of GSK's other nutritional products, such as Horlicks, which has made a big impact on some of the emerging markets such as India.
Bring to the market this leasehold specialist car sales and servicing facility located in Horncastle, Lincolnshire. The trade was established as a limited company in 2005.
LEASEHOLD
The company is an online vehicle purchasing platform, providing a fast, hassle-free car-selling service for the end user. A competitor to the likes of webuyanycar.com and Motorway, the company is a well-established online vehicle purchasing platform...
Bringing to the market this denim and casual wear retailer, boating a user friendly comprehensive online presence.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.