Japanese firm Suntory buys Lucozade and Ribena
Iconic Gloucestershire-made drinks brands Ribena and Lucozade have been sold for £1.35blln by GlaxoSmithKline to giant Japanese drinks business Suntory.
Today’s announcement significantly boosts the Japanese firm’s presence in the UK and an end to speculation about a sale of the Coleford factory which employs 500 staff.
Ribena and Lucozade have attracted intense interest and a raft of private buyers since their owners, GSK, put them up for sale in April after deciding they were no longer a good fit for the company’s portfolio.
David Redfern, chief strategy officer, GSK, said: “Lucozade and Ribena are iconic brands that have made a huge contribution to GSK over the years, but now is the right time to sell them as we increase the focus of our Consumer Healthcare business and execute the delivery of our late stage pipeline of pharmaceuticals and vaccines.
Traditional Shave, Facial Treatment, Whisky and a Shoe Shine -...View details
Gents, enjoy a traditional shave, facial treatment, glass of whisky and a shoeshine for £31
Terms: Early and later appointments available upon request.
Contact: 01242 504887
Valid until: Tuesday, December 31 2013
“We believe the future of Lucozade and Ribena is in good hands given SBF’s established beverages business, ambitious growth plans and also their recognition of the strong performance and capability of the GSK employees working on these products.”
It is expected that the transaction will be completed by the end of the year, subject to regulatory approvals.
The Coleford plant is now one of the largest in-house bottling operations in Europe, it producing 1.1 billion bottles of Ribena and Lucozade a year.
In 2011 the multi-national company splashed out £70 million on expensive new machinery at the Forest of Dean factory.
Names including Blackstone and Lion Capital were reportedly to be eyeing up the brands with a view to bidding for them in an auction expected at the end of this month, but a deal with Suntory will thwart such plans, according to the Telegraph newspaper.
Suntory Beverage & Food Ltd is a leading global soft drink company, headquartered in Japan and listed on the Tokyo Stock Exchange, with an integrated platform across four key regions: Japan, Europe, Oceania and Southeast Asia.
SBF has an extensive product line-up and in 2012 was the number four supplier of soft drinks globally and second in Japan. SBF’s vision is to be the leading global soft drink company recognized for its premium and unique brands.
The business was founded in 1899 and had global sales of more than £12 billion in 2012. It has a range of businesses encompassing alcoholic beverages, wellness, food, restaurants and flowers with approximately 200 companies and 29,000 employees across Japan, Europe, Asia Pacific and the Americas.