Lucozade and Ribena head east

JAPANESE conglomorate Suntory Beverage & Food (SBF) has bought Lucozade and Ribena from GlaxoSmithKline (GSK) for £1.35bn.
Annual sales of the two brands were £500m in 2012.
David Redfern, chief strategy officer at GSK, said: “Lucozade and Ribena are iconic brands but now is the right time to sell them as we increase the focus of our consumer healthcare business.
“We believe their future is in good hands given SBF’s established beverages business and their recognition of the strong performance and capability of GSK staff working on these products.”