Hindustan Unilever(HUL) has acquired GSK Consumer’s India business, including the popular Horlicks, Boost and other brands.
The deal was inked after months of negotiations and a race against other global FMCG majors. HUL board has approved the scheme of amalgamation with GSK Consumer India, under which the two companies will merge. HUL will get to acquire GSK Consumer’s Horlicks and other brands for as much as EUR 3.3 billion.
GSK Consumer Healthcare and HUL have agreed to a share exchange ratio of 4.39 shares of HUL for every one share of GSK Consumer India, the two companies said in separate filings with the stock exchanges.