Maxinutrition is Europe’s no 1 sports nutrition company by market share and has delivered sales growth of approximately 21% CAGR over the last 3 years. The company recorded sales of approximately £36m for the fiscal year ended April 2010.
John Clarke, GSK president consumer healthcare, said: “This deal will give GSK a strong presence in the fast developing protein-based sports nutrition market, appealing across a broad spectrum of consumers from elite athletes to sports participants and those seeking additional nutritional supplementation. GSK will invest behind Maxinutrition’s science-proven products to extend the growth of Maxinutrition within its UK and European footprint and expand to the global marketplace, where GSK has existing infrastructure and capabilities. The acquisition is a demonstration of GSK’s strategy to expand our Consumer Healthcare business through appropriate bolt-on acquisitions which meet our strict financial criteria.”
Maxinutrition CEO Peter Boddy said: “Maxinutrition is a fast growing, focused sports nutrition business with excellent growth prospects and a strong management team – it’s a natural fit for GSK and its ambition to extend and expand its Nutritional Healthcare business. GSK’s strong commercial and R&D capability, coupled with the investments being made in expanding their global nutritional healthcare franchise in new markets and territories, offer tremendous new opportunities to develop the Maxinutrition brands and continue to deliver impressive growth in the coming years.”
Source: GlaxoSmithKline
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