Unilever announced Horlicks buyout for £3.3bn
PUBLISHED: 10:58 03 December 2018 | UPDATED: 11:24 03 December 2018
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One of Norfolk’s major employers, Unilever, has announced it is buying drinks chain Horlicks and a host of other drinks brands for £3.3bn.
The cohort of brands will be bought from Indian drugs maker Glaxosmithkline (GSK), and the merge will form one of the largest food and refreshment groups in the country.
Unilever hit headlines last year when it announced Colman’s mustard would be moved out of Carrow Works after an 160 year association.
Production will be phased out until the end of 2019.
Unilever said the buyout was in line with is strategy of increasing its presence in health food categories and high-growth emerging markets.
GSK chief executive Emma Walmsley said: “Horlicks has made a significant contribution to GSK and to the health of consumers across India for many decades and we believe Unilever is well placed to maximise its future potential.”