Blackstone considers bid of over £1bn for Lucozade and Ribena

Sky News reports that a bid for Lucozade and Ribena in excess of £1bn is being considered by private equity firm Blackstone. City A.M.'s columnist Mark Kleinman:

The two brands, which have annual sales of more than £400m, have been designated as non-core assets by Sir Andrew Witty, GSK's chief executive, and are expected to be put on the auction block within months.

"They're great brands but they don't naturally tick the boxes for where I think the core synergy of the company sits," Sir Andrew said last month. "Every option is on the table. If there's an option out there that can do any better with them than us, that'd be great."

City analysts value Lucozade and Ribena at more than £1bn, with some arguing that they could be worth as much as £1.5bn.

(Sky News)