Hindustan Unilever completes acquisition of GlaxoSmithKline Consumer Healthcare for Rs 3,045 crore
By MYBRANDBOOK
Hindustan Unilever has announced the successful completion of the merger of GlaxoSmithKline Consumer Healthcare (GSKCH). The merger was announced in December 2018. HUL said in the statement that this is one of the largest deals in the FMCG sector in recent times and will lead to significant value creation for all stakeholders. The Indian arm of British-Dutch major has acquired Horlicks Brand for India from GSK for Rs 3,045 crore. GSKCH also has Boost, Maltova and Viva under its portfolio which will now also come under HUL.
“The merger gives us a unique opportunity to live our purpose and serve India where nutrition related challenges form the largest causes of disease — Malnutrition and Micronutrient deficiency — and aligns well with the government’s ambitious Swasth Bharat and Poshan Abhiyan programs,” Sanjiv Mehta, Chairman and Managing Director, Hindustan Unilever, said. Horlicks has almost half of the volume share of the nutrition staple segment. The brand was introduced in India in the 1930s. HUL and GSK have a consignment selling arrangement to distribute brands of the GSK Consumer Healthcare family in India. HUL will leverage its distribution network to market brands such as GSK’s Eno, Crocin, Sensodyne.
GlaxoSmithKline Consumer Healthcare business had a turnover of Rs 45 billion in the last financial year and the major contribution to it was via Horlicks and Boost brands. “The merger of GlaxoSmithKline Consumer Healthcare Limited with HUL has been on the basis of an exchange ratio of 4.39 HUL shares for each GlaxoSmithKline Consumer Healthcare Limited share,” the company said.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Delivering Critical Business Communication Solutions to Enterp
Arya Omnitalk and Syntel’s comprehensive suite of solutions and more than
AMD Pensando driving innovation in the DPU architecture space
AMD Pensando stands out in the DPU (Data Processing Unit) market with its u
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
INFOSYS TECHNOLOGIES PVT. LTD.
HIMACHAL FUTURISTIC COMMUNICATIONS LTD.
SAMRIDDHI AUTOMATIONS PVT. LTD.
ZOHO CORPORATION PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : B.V.R. Subrahmanyam
A 1987 batch (Chhattisgarh cadre) Indian Administrative Service Office...
ICONS OF INDIA : SRIDHAR VEMBU
Sridhar Vembu is the chief executive officer (CEO) of Zoho Corporation...
ICONS OF INDIA : SHAILENDER KUMAR
Shailender Kumar is senior vice president and regional managing direct...
PARTNER SPEAKERS
PSU
C-DOT - Center of Development of Telematics
India’s premier research and development center focused on telecommu...
IOCL - Indian Oil Corporation Ltd.
IOCL is India’s largest oil refining and marketing company ...
CSC - Common Service Centres
CSC initiative in India is a strategic cornerstone of the Digital Indi...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - NIKESH ARORA, Chairman CEO - Palo Alto Networks
Nikesh Arora, the Chairman and CEO of Palo Alto Networks, is steering ...
Indian Tech Talent Excelling The Tech World - Vinod Dham, Founder & Executive Managing Partner, IndoUS Venture Partners
Vinod Dham, known as the “Father of the Pentium Chip,” has left an...
Indian Tech Talent Excelling The Tech World - JAYASHREE ULLAL, President and CEO - Arista Network
Jayshree V. Ullal is a British-American billionaire businesswoman, ser...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
