GSK Show Their Muscle in USD253.7m Maxinutrition Buy-Out

By Community | December 15, 2010

A massive deal has been struck which will see GlaxoSmithKline (GSK) acquire the Maxinutrition Group Holdings Limited for around £162m (US$253.7m). The company, who produce protein enhanced functional nutrition products, used by a vast array of sportsmen and women, will now relinquish 100 per cent of their shares to GSK in a deal which is subject to approval from the Office of Fair Trading.

Last year’s sales from Maxinutrition, which includes flagship product Maximuscle, totalled at approximately £36m ($56.4m) for the fiscal year ending in April 2010. GSK’s reach will now branch into wider categories, complementing its existing nutritional healthcare business.

John Clarke, President Consumer Healthcare, said: “This deal will give GSK a strong presence in the fast developing protein-based sports nutrition market, appealing across a broad spectrum of consumers from elite athletes to sports participants and those seeking additional nutritional supplementation.

“GSK will invest behind Maxinutrition’s science-proven products to extend the growth of Maxinutrition within its UK and European footprint and expand to the global marketplace, where GSK has existing infrastructure and capabilities.”

Comment.

NO comments

Leave a Reply