GSK sells Lucozade, Ribena to Japan's SuntorySeptember 9, 2013 @ 3:52 am
LONDON (AP) - GlaxoSmithKline says it has sold its line of Lucozade and Ribena drinks brands to Suntory of Japan as part of the British company's effort to focus on its core pharmaceutical and health-care businesses.
Glaxo said Monday that it had agreed to sell the two brands to the Japanese consumer goods group for 1.35 billion pounds ($2.12 billion).
Ribena's blackcurrant drink dates back to 1938 and was distributed freely during World War II as a source of Vitamin C. Lucozade, originally known as Glucozade, was launched in in 1927 as an aid to recovery aid before becoming popular as a sports drink.
Osaka-based Suntory is known for producing Japan's first whiskey. It runs a series of subsidiaries whose concerns include food, supplements, flowers, and fitness.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
At the Finish Line
The man who saved horse racing in Washington tells Dori Monson why he's stepping away
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.