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24/04/2013
GSK Put Iconic Soft Drink Brands Up For Sale
In a move that could net £1bn, GlaxoSmithKline (GSK) have put Lucozade and Ribena up for sale.
The popular soft drink brands date back to 1927 and 1938 and went on sale today (Wednesday).
Chief executive of GSK, Sir Andrew Witty, said it hoped to sell the brands to a global drinks giant.
"[We] 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," he said in a statement.
Global sales of Ribena grew by 2% in the first three months of this year. But Lucozade sales dropped 2%, and sales in Europe fell by 7%.
(H/CD)
The popular soft drink brands date back to 1927 and 1938 and went on sale today (Wednesday).
Chief executive of GSK, Sir Andrew Witty, said it hoped to sell the brands to a global drinks giant.
"[We] 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," he said in a statement.
Global sales of Ribena grew by 2% in the first three months of this year. But Lucozade sales dropped 2%, and sales in Europe fell by 7%.
(H/CD)
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