In a new business update; Hindustan Unilever is planning to Overtake indian heatlhcare business of GlaxoSmithKline which includes Horlicks and Boost units.
It is said to be biggest ever deal in consumer goods market valuing at $3.8 billion all equity deal. After this acquisition; HUL will be crowned as country’s largest food company ahead of rivals Nestle` Britannia and ITC.
In this deal; GSK will get 5.7% stake in HUL while HUL holding will drop to 61% in its India Unit.
Along with Boost and Horlicks; HUL will also get distribution rights for Crocin, Eno, Iodex, Sensodyne and others for a five year agreement.