Unilever Boosts health drink footprint with Horlicks buy for Rs 27,750 cr

The deal offers Unilever a unique market position in the health food business.

Published: 04th December 2018 06:25 AM  |   Last Updated: 04th December 2018 06:25 AM   |  A+A-

Image used for representational purpose.

By Express News Service

In one of the biggest deals in the FMCG space, Anglo-Dutch retail giant Unilever plans to acquire GlaxoSmithKline’s health food portfolio in India and over 20 other markets for over Rs 27,750 crore. GSK’s health food portfolio includes popular brands Horlicks and Boost.

The deal entails multiple transactions. According to a company statement, Unilever’s Indian arm Hindustan Unilever will acquire GlaxoSmithKline Consumer Healthcare in an all-stock merger. The transaction includes acquisition of 82 per cent in GSK Bangladesh and other commercial operations and assets outside India.

The deal offers Unilever a unique market position in the health food business.“The iconic Horlicks brand has a deep heritage, credibility and resonance around the world. The acquisition is transformative for our Foods and Refreshment (F&R) business, allowing us to enter the Health Foods Drinks category…” said Nitin Paranjpe, president (food & refreshment), Unilever.

“The turnover of our F&R business will now exceed Rs 10,000 crore and we will become one of the largest F&R businesses in the country,” said Hindustan Unilever chairman and CEO Sanjiv Mehta.
Nestle and CocaCola were also in the race to acquire GSK’s health food portfolio.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp