Unilever has agreed to purchase GlaxoSmithKline's Indian consumer business in a $3.8 billion deal, reports Bloomberg. The deal gives Unilever the Boost brand and Horlicks malted milk drink. The malt-based beverage market is expected to grow slower than in the past as consumers move away from sugary drinks. But Unilever aims to counter slowdown by using its distribution network to reach more customers, including people in rural markets.
This deal also includes an 82 percent stake in Glaxo's Bangladesh unit and other related consumer health brands outside India, which will expand Unilever's presence in the emerging markets that account for about two-thirds of its revenue. Full Story
Related: Unilever Launches Brand to Support Urban Farming; Food Giants Create Sustainable Food Policy Alliance.
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