Kathmandu, December 4
European consumer good production giant, Unilever, has announced that it has signed an agreement to acquire the Health Food Drinks portfolio (GSK HFD) of GlaxoSmithKline (GSK) in India, Bangladesh and 20 other predominantly Asian markets.
The GSK produces Horlicks and Boost, among other healthcare nutrition products that are popular in Nepal as well.
The company announced on Monday that it will consider shares worth €3.3 billion, using a combination of cash, and shares in its listed subsidiary in India, Hindustan Unilever Limited.
“The transaction is aligned with Unilever’s stated strategy of increasing its presence in health-food categories and in high-growth emerging markets,” the company says, “Unilever is well positioned to further develop the market given the extent of its reach and capabilities.”
