Business
JAPANESE COMPANY-SUNTORY BEVERAGES & FOOD-SBF TAKES OVER LUCOZADE AND RIBENA DRINKS FOR N22.6B
Have you seen the newly improved canned Lucozade and Ribena drinks now in the beverage market in Nigeria? Well, www.towncrier.ng will bring to you the evidentiary economic news about how in 2016 Glaxosmithkline Consumer Nigeria-GSK Plc divested its two iconic brands of Lucozade and Ribena drinks in a mouth-watering deal of Twenty-two Billion and six hundred Million naira-N22.6B to the Japanese group-Suntory Beverage and Food limited-SBF now known as Suntory Beverage and Food Nigeria Limited which is a subsidiary of SBF Japan.
President Of Suntory Beverages and Food Worldwide
In that deal , the sale had inclusion of the company’s business of manufacturing, bottling, marketing, distributing, and selling of the Lucozade and Ribena soft drinks brands in Nigeria and all assets possessed to therewith or deployed in connection with business of the said Lucozade and Ribena drinks.
www.towncrier.ng gathered that this deal was one of the major silent break-through in corporate Nigeria Direct Foreign Investment-DFI with the Japanese business community as at 31st, May, 2016 when GSK Plc and Suntory group of companies sealed the business worth over Seventy-Nine Million two hundred thousand United States of America Dollars-USD$79.2m (N22.6Billion).
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GSK Nigeria Plc since the execution of this deal has been concentrating in the business of consumer healthcare Wellness, Oral Healthcare Nutrition and Pharmaceutical and Vaccines business where they have comparative advantage in dominating the Nigerian consumer market especially in household related domestic healthcare products.
Suntory Beverage and Food is a leading soft drinks company with total sales of Six Billion and six Hundred Thousand Pounds sterling -6.6Billion. Now canned Lucozade and Ribena soft drinks are found in the market throughout Nigeria where it is in competition with other brands such as Maltina soft drink, Malta Guinness Soft drink, Maltex drink and Grand Malt soft drink. etal.
