ISH pharmaceuticals giant GlaxoSmithKline yesterday agreed to buy protein shake maker Maxinutrition for £162m.
Glaxo said it would buy all of Maxinutrition’s shares from current owner Darwin Private Equity. The deal price includes the repayment of outstanding debts.
Glaxo is hoping to use its global distribution network to market Maxinutrition’s brands, which are currently sold in gyms and speciality stores.
“This deal will give Glaxo a strong presence in the fast developing protein-based sports nutrition market, appealing across a broad spectrum of consumers from elite athletes to sports participants, ” said John Clarke, president of Glaxo’s consumer healthcare business.