Unilever completed the acquisition of Health Food Drinks portfolio of GSK for $5.2bn.

Unilever completed the acquisition of the Health Food Drinks portfolio of GlaxoSmithKline in India, Bangladesh and 20 other predominantly Asian markets for $5.2bn. The transaction includes: the all-equity merger between Hindustan Unilever, the Indian subsidiary of Unilever, and publicly listed GSK Consumer Healthcare India, this implies a total equity value of €3.96bn ($4.5bn); acquisition of 82% stake in GSK Bangladesh at an equity value of €169m ($191m); acquisition of certain other commercial operations and assets outside India for a total consideration of €470m ($531m) in cash. "We are delighted to be acquiring the GSK Health Food Drinks portfolio. The iconic Horlicks brand has a deep heritage, credibility and resonance around the world. The acquisition is transformative for our Foods and Refreshment business allowing us to enter the Health Foods Drinks category, further strengthening our position in health and wellness." Nitin Paranjpe, Unilever Food & Refreshment President. Unilever has also completed the related acquisition of Horlicks brands rights and other Consumer Healthcare nutrition assets from GSK in other predominantly Asian markets. Bangladesh closing is expected to follow later this quarter, subject to local procedures.