Early in February, we reported that pharmaceutical group GlaxoSmithKline was putting two of its biggest brands, Lucozade and Ribena, up for sale.
Now it seems that Japan’s Suntory Holdings will be the likely bidder. According to Sky News, Suntory has approached Morgan Stanley and Nomura about arranging the financing so that it can make an offer.
There are some obvious synergies for Suntory, which has declared intentions to increase its presence in western markets. In 2009 it bought the Orangina Schweppes Group for €2.6bn, and later that year it bought Frucor for €600m.
Through the previous deals with Orangina Schweppes and Frucor, Suntory Food & Beverage already fields brands including Gatorade, Schweppes, Orangina, Pampryl, Snapple, Trina, Sunny Delight and the energy drink V. Lucozade and Ribena would make a logical fit.
Source: Telegraph/Sky News