HORILIX Sold, HUL purchases GSK India business for Rs 31,700 crore
New Delhi: Multinational Consumer Goods Unveiled Unilever has bought Horlicks and other food products from GSK Consumer Healthcare India. Unilever said that he would merge with GSK Consumer. This deal will be Rs 31,700 crore, which is the biggest deal till now, the consumer goods market in India.
Under the Equity Merger deal, 4.39 shares of HUL will be given instead of a share of GSK Consumer Health. Under this deal, some properties of India and abroad will also be acquired. With this, Unilever has announced the acquisition of 82 percent stake in GSK Bangladesh. Apart from this, he will also buy a stake in GSK’s commercial operation in 20 Asian markets.
This deal is expected to be completed within 12 months.
Now, with the entire operation of the G.K.K. nutrition business, all the over-the-counter (OTC) distributions contracts including oral care brands such as Sensodyne and Eno, Crocin have also come to HUL.
After the deal, HUL Chairman Sanjeev Mehta said, “Our business of food and refreshment will increase to 10 thousand crore rupees and we will be among the largest companies in the region in the country.”
Significantly, Horlicks came to India with the British after the end of World War I. The British soldiers used to take it as a supplement. After that, it succeeded in becoming the most popular brand of children.
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