Unilever acquires 81.98% stake in GSK’s health food division in Bangladesh

Unilever acquires 81.98% stake in GSK’s health food division in Bangladesh

June 30, 2020

Unilever Overseas Holdings BV, a concern of Unilever, bought a total of 9,875,144 shares or 81.98% stakes in GlaxoSmithKline Bangladesh Limited on the block market at Dhaka Stock Exchange.

This acquisition was announced on December 3, 2018 and was subject to obtaining necessary approvals, which have now been secured. Under the acquisition, Unilever got the ownership of GSK’s iconic Health Food & Drinks (HFD) portfolio brands including Horlicks, Boost, and Glaxose-D.

The remaining 18.02% stake is owned by General and institutional investors. Of them, institutional investors own 15.53 percent share, general investors 2.12 percent, and foreign investors 0.37 percent as of February 29 this year.

GlaxoSmithKline Bangladesh Limited is the undisputed leader in the HFD category, with iconic brands such as Horlicks and Boost, and a product portfolio supported by strong nutrient content claims.

This deal is aligned with Unilever’s stated strategy of increasing its presence in health-food categories and in high-growth emerging markets. To build a profitable and sustainable Nutrition business in Bangladesh this step will reinforce Unilever’s focus to support the government’s national agenda to combat malnutrition in all its forms.

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