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