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ITC open to acquisition of GlaxoSmithKline's (GSK) Horlicks brand

Diversified conglomerate ITC Ltd today said it is open to the acquisition of GlaxoSmithKline's (GSK) Horlicks brand when it is put up for sale, provided the price is "right".


PTI 27 Jul 2018, 03:04 PM India
  • GSK had gone for a strategic review of the Horlicks brand to fund the Novartis deal pegged at USD 13 billion.(ImageCredit:Twitter)

Diversified conglomerate ITC Ltd today said it is open to the acquisition of GlaxoSmithKline's (GSK) Horlicks brand when it is put up for sale, provided the price is "right".

"We would explore buying the Horlicks brand if it is up for sale and at a right price," managing director of ITC Sanjiv Puri told reporters here today.

According to reports, ITC is on the list of suitors for the popular malt-based health drink brand Horlicks. Nestle, Dabur, Mondalez, Kraft Heinz and Hindustan Unilever were the others also believed to be in the fray.

GSK had gone for a strategic review of the Horlicks brand to fund the Novartis deal pegged at USD 13 billion.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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