British FMCG and pharmaceutical firm GlaxoSmithKline has announced its intention to sell its Horlicks brand of hot drinks in the UK, together with its MaxiNutrition business.
The sale is reportedly part of the company’s strategy of focusing on its pharmaceutical business, which accounts for £16.1 billion ($20.1 billion) in annual sales.
Horlicks was originally acquired by GlaxoSmithKline forerunner SmithKline Beecham in 1969. The malted hot drink is available in Light and Light Chocolate options, as well as a Traditional version, and is promoted as “the mainstay of any cupboard, filled with nourishing goodness”.
According to a BBC report, the sale of the brand is also set to lead the closure of the facility in Slough, UK where the drink is made.
MaxiNutrition is a sports business, offering a broad range of supplement products.
Source: Foodbev / BBC / GlaxoSmithKline