Unilever Purchases GlaxoSmithKline’s Indian Horlicks Brand for $3.8 Billion
Unilever has announced plans to purchase GlaxoSmithKline’s Horlicks nutrition business for $3.8 billion. Horlicks carries a popular malted drink in India. The deal allows Unilever to have a larger presence in one of the world’s fastest-growing economies. GSK is also creating a new stream of revenue to use for investments in pharmaceuticals. Unilever’s bid was chosen over offers from both Nestle and Coca-Cola.
Even though many of Unilever’s recent acquisitions have focused on beauty and personal care products, buying Horlicks is a rare opportunity for Unilever to increase its scale in India, particularly in food and drinks.