GlaxoSmithKline (GSK) Eyes Tasty $1.5 Billion for Lucozade, Ribena
4/25/2013 8:58:47 AM
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GlaxoSmithKline confirmed yesterday that Lucozade and Ribena were on the block, with analysts predicting they could raise as much as pound stg. 1 billion ($1.5bn). "We are excited about what we have seen as a significant amount of interest in these brands," GSK chief executive Andrew Witty said. "We have done a very thorough review and we love these brands and we think we have done a terrific job with them. "However, we think there is a reasonable probability that there are other potential owners who will be able to generate greater value because they may have better synergies and better distribution footprints." Global sales of Ribena rose by 2 per cent in the first three months of this year, but Lucozade sales fell 2 per cent and in Europe were down by 7 per cent.
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