Unilever buys Horlicks

New Delhi, December 3 

Advertisement

Anglo-Dutch FMCG giant Unilever today said it will acquire health food portfolio, including popular brands Horlicks and Boost, from GlaxoSmithKline in India and over 20 other markets for 3.1 billion pounds (about Rs 27,750 crore).

As part of the deal, Unilever’s Indian arm, Hindustan Unilever (HUL) will acquire GlaxoSmithKline Consumer Healthcare Ltd via an all-equity merger, valuing the total business of the latter at Rs 31,700 crore.

GSK CH India is the market leader in the health food drinks (HFD) category, with popular brands such as Horlicks and Boost.

Announcing the deal that also covers “Bangladesh and 20 other predominantly Asian markets”, Unilever said the transaction consists of an all-equity merger of HUL with the publicly-listed GSK Consumer Healthcare India and acquisition of 82% stake in GSK Bangladesh Ltd. — PTI

The Rs 31,700-crore transaction

• Unilever’s Indian arm, HUL will acquire GlaxoSmithKline Consumer Healthcare Ltd via an all-equity merger
• Under the deal, 4.39 shares of HUL will be allotted for every share in GSK CH India
• The turnover of HUL’s foods and refreshments business will now exceed Rs 10,000 cr