This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-24013720
The article has changed 4 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Lucozade and Ribena sold for £1.35bn | Lucozade and Ribena sold for £1.35bn |
| (35 minutes later) | |
| The Lucozade and Ribena drinks brands have been sold by GlaxoSmithKline (GSK) to Japanese firm Suntory for £1.35bn. | The Lucozade and Ribena drinks brands have been sold by GlaxoSmithKline (GSK) to Japanese firm Suntory for £1.35bn. |
| Suntory already owns beverage firm Orangina Schweppes, and the deal is expected to help it expand into new markets. | Suntory already owns beverage firm Orangina Schweppes, and the deal is expected to help it expand into new markets. |
| The deal was widely expected after Suntory was reported to be in talks with GSK last week. | The deal was widely expected after Suntory was reported to be in talks with GSK last week. |
| GSK chose to get rid of the well-known UK brands after deciding to focus on its core pharmaceuticals business. | GSK chose to get rid of the well-known UK brands after deciding to focus on its core pharmaceuticals business. |
| Ribena and Lucozade saw combined sales totalling £600m last year, but GSK decided to offload the brands after a strategic review in April. | Ribena and Lucozade saw combined sales totalling £600m last year, but GSK decided to offload the brands after a strategic review in April. |
| At the time, it said the brands would be able to grow better under different ownership. | At the time, it said the brands would be able to grow better under different ownership. |
| Ribena first went on sale in the 1930s, while Lucozade dates back to 1927. | Ribena first went on sale in the 1930s, while Lucozade dates back to 1927. |
| Both are made in the UK in Coleford, Gloucestershire. | Both are made in the UK in Coleford, Gloucestershire. |
| Although well-known in the UK, both brands are less recognised abroad, particularly in the emerging economies where GSK sees its growth markets. | |
| Suntory has sought to expand globally in recent years from its base in Japan, where it has seen sluggish growth in sales. | |
| It established its presence in Europe just four years ago with its purchase of Orangina Schweppes for 2.6bn euros (£2.2bn). | It established its presence in Europe just four years ago with its purchase of Orangina Schweppes for 2.6bn euros (£2.2bn). |
| The purchase of Ribena and Lucozade pre-empted a possible auction of the brands, with private equity firms, such as Blackstone and Lion Capital, and Irn-Bru maker AG Barr all reported to be considering bids. | |
| Suntory was helped by a flotation on the stock market earlier this year that raised $4bn (£2.6bn). | |
| GSK said it expected the sale to be completed by the end of the year. |