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Why did GSK merger with HUL?
After considering multiple bids from various companies like Coca-cola, Nestle and Unilever, GSK decided to merge its Indian subsidiary with HUL for a total consideration of Rs. 42,242 Cr. approximately which was equity-based. The share swap ratio was 4.39:1 i.e. 4.39 shares of HUL for every single share of GSK India.
When did HUL acquire GSK?
Hindustan Unilever (HUL) said that it had acquired the Horlicks brand from GlaxoSmithKline Consumer Healthcare (GSK CH) for Rs 3,045 crore. HUL had on December 3, 2018 announced its decision to merge GSK CH India in a deal that valued the latter at Rs 31,700 crore.
Is GSK owned by Unilever?
The $452 million Unilever-GSK deal had to be changed because India’s love for Horlicks is worth billions. HUL acquired brand Horlicks from GSK for about $398 million (₹ 3,041 crore) for the Indian market. HUL’s parent company Unilever paid around $54 million (₹415 crore) for Horlicks brand for other geographies.
Why did HUL acquired Horlicks?
According to the company, the merger is in line with HUL’s strategy to build a sustainable and profitable foods and refreshment (F&R) business in India by leveraging the mega trend of health and wellness.
Why did GSK sell Horlicks to Unilever?
“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 …
Who is the owner of Horlicks?
SmithKline Beecham
Smithkline Beecham Legacy H Limited/Parent organizations
What is Gskch?
www.gsk.com. GlaxoSmithKline plc (GSK) is a British multinational pharmaceutical company headquartered in London, England.
Who owns bournvita?
Bournvita is owned by UK-based Kraft and was launched in 1948. It is one of the oldest brands in the malted beverages segment.
Why did Unilever buy Horlicks?
Is bournvita Indian?
Introduced: 1948 In India, Cadbury Bournvita is one of India’s most trusted brands and comes in both a chocolate-and-caramel flavor called Cadbury Bournvita 5 Star Magic. In Nigeria, Cadbury Bournvita is known as “the food drink for vitality” and is endorsed by the Nutrition Society of Nigeria.