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Monday, Sep 9
GSK to sell Lucozade, Ribena brands for £1.35B
- In a widely anticipated move, GlaxoSmithKline (GSK) has agreed to sell its Lucozade and Ribena drink brands to Japan's Suntory for £1.35B.
- GSK plans to use the proceeds of the deal to cut debt and for general corporate purposes.
- Glaxo said in April that it planned to sell the brands, which are highly popular in the U.K., as part of a strategic review as it looks to focus on its health businesses. (PR)