FoodBev reported that this action likely at the start of February.
GSK chief executive Sir Andrew Witty said: “In April 2013, we completed the strategic review of our nutritional drinks brands Lucozade and Ribena and concluded that the tremendous growth potential of these iconic brands, particularly outside the ‘core’ Western markets, could be better leveraged by companies with existing category presence and infrastructure in these regions. As a result, we have decided to pursue the divestment of these brands, subject to the realisation of appropriate value for GSK shareholders.”
GSK’s first quarter results saw group sales fall 3% to £6.47bn. Global sales of Ribena grew by 2% in the first quarter of this year but Lucozade sales dropped 2%. Together, the drinks brands have sales of around £600m per year.
It is believed that an approach has already been made Japanese drinks group Suntory.
Source: GSK/The Week
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