Unilever, the Anglo-Dutch consumer goods giant, has announced the completion of the merge between GSK Consumer Healthcare (GSK India) and its Indian Affiliate, Hindustan Unilever Limited (HUL).
The deal, previously announced in December 2018, was subject to legal and regulatory approvals, which are now secured.
In addition to this merge, HUL will acquire the Horlicks Brand in India to GSK for $404.59 million.
Brian McNamara, CEO of GSK Consumer Healthcare, said: “The close of this transaction signals the beginning of an exciting new chapter for GSK in India, enabling us to focus and build on our portfolio of brilliant, science-based OTC and Oral Health brands and to make these products available to more consumers across the country”.
Sanjiv Mehta, chairman and managing director of Hindustan Unilever, added: “The merger gives us a unique opportunity to live our purpose and serve India where Nutrition related challenges form the largest causes of disease– Malnutrition and Micronutrient deficiency – and aligns well with the Government’s ambitious Swasth Bharat and Poshan Abhiyan programs”.
Sources: Company PR