Round-Up - Suntory Food & Beverage's Ribena, Lucozade buy
Suntory Food & Beverage has agreed to buy GlaxoSmithKline brands Ribena and Lucozade for GBP1.35bn (US$2.11bn). Read just-drinks' full round-up of the deal here
GlaxoSmithKline (GSK) has agreed to sell its Lucozade and Ribena brands to Suntory Beverage & Food for GBP1.35bn (US$2.11bn)
Suntory Food & Beverage didn't exactly swipe Ribena and Lucozade from under the noses of the UK soft drinks industry.
An analyst has questioned whether Suntory Food & Beverage will make AG Barr its next target after its deal to acquire GlaxoSmithKline's brands Ribena and Lucozade.
Suntory has no plans to launch potential new acquisitions Ribena and Lucozade in Japan but will use them to expand its existing portfolio in the UK, Nigeria and Malaysia, the company said today (9 September).
Suntory Beverage & Food has said it is interested in Ribena and Lucozade but denied it has agreed with GlaxoSmithKline (GSK) to buy the for-sale UK brands.
AG Barr is switching its attention to GlaxoSmithKline's Lucozade and Ribena brands, following the collapse of its proposed merger with Britvic, according to UK reports.
GlaxoSmithKline (GSK) has confirmed Lucozade and Ribena are on the market, saying other companies will have a better chance of turning a profit from the brands.
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