Glaxo Unloads Lucozade, Ribena Nutritional Beverages
This article was originally published in The Tan Sheet
GlaxoSmithKline’s latest consumer business divestment, of Lucozade sports beverages and Ribena fruit drinks, reflects the company’s focus on pharmaceuticals and emerging markets, between which the beverage brands were somewhat lost.
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GlaxoSmithKline abandons its attempt to divest the OTC weight loss aid alli, even though the beleaguered brand continues to drag down consumer division sales. The division’s sales climbed 7% excluding alli in the firm’s second quarter, but only 5% including the product’s results.
GlaxoSmithKline underlines its commitment to the nutritional products space by acquiring Maxinutrition Group Holdings, a leading U.K. sports nutrition firm.