Consumer goods giant Unilever has today completed the acquisition of Horlicks and other Glaxosmithkline brands in a £397m deal.
The deal will allow Unilever to use the Horlicks brand rights and other GSK Consumer Healthcare nutrition brands in predominantly Asian markets.
The company’s listed subsidiary in India, Hindustan Unilever Limited (Hul) also announced today that it has completed a merger with GSK Consumer Healthcare Limited. HUL will distribute brands including Sensodyne for GSK in India.
GSK will continue to be responsible for demand generation, portfolio strategy, research and development and marketing for the brands.
Brian McNamara, chief executive of GSK Consumer Healthcare, said: “The close of this transaction signals the beginning of an exciting new chapter for GSK in India, enabling us to focus and build on our portfolio of brilliant, science-based OTC and Oral Health brands and to make these products available to more consumers across the country.”
The merger was announced in December 2018 and following the transaction Unilever’s holding in HUL will be diluted from 67.2 per cent to 61.9 per cent.