GSK buys sports nutrition company for £162m
pharmafile | December 14, 2010 | News story | Sales and Marketing | GSK, GlaxoSmithKline, Maximuscle, Maxinutrition, consumer healthcare, sports nutrition
GlaxoSmithKline has acquired UK sports nutrition firm Maxinutrition for £162 million to help broaden its consumer portfolio.
The company already has a thriving consumer healthcare business, but hopes the new addition will bridge the gap between its pharma and consumer divisions.
John Clarke, president of 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.”
Clarke added that the acquisition demonstrated GSK’s drive to expand its consumer healthcare business through ‘bolt-on’ acquisitions.
Maxinutrition manufactures protein-enhanced functional nutrition products and is Europe’s top sports nutrition company by market share.
The company recorded sales of approximately £36 million for the fiscal year ending April 2010.
Peter Boddy, Maxinutrition’s chief executive, said: “Maxinutrition is a fast growing, focused sports nutrition business with excellent growth prospects and a strong management team – it’s a natural fit for GSK and its ambition to extend and expand its nutritional healthcare business.
“GSK’s strong commercial and R&D capability, coupled with the investments being made in expanding their global nutritional healthcare franchise in new markets and territories, offer tremendous new opportunities to develop the Maxinutrition brands and continue to deliver impressive growth in the coming years,” Boddy added.
Subject to approval from competition regulators at the Office of Fair Trading, GSK will acquire 100% of the shares of Maxinutrition for a cash consideration of approximately £162 million.
Under the terms of this agreement, GSK will acquire Maxinutrition’s brands, including Maximuscle, the leading brand in the UK and European sports nutrition market.
The muscle building powders will help shore up GSK’s growing portfolio of consumer brands, which includes Ribena, Sensodyne toothpaste and Lucozade.
The deal will also complement the pharma company’s existing nutritional healthcare business.
Ben Adams
Related Content
GSK’s Exdensur receives MHRA approval for asthma and rhinosinusitis
GSK’s Exdensur (depemokimab), a twice-yearly biological medicine, has received approval from the UK Medicines and …
Multiple myeloma treatment approved in Japan
GSK’s Blenrep (belantamab mafodotin) combinations have been approved by Japan’s Ministry of Health, Labour and …
US FDA expands Jemperli (dostarlimab-gxly) plus chemotherapy approval to all adult patients with primary advanced or recurrent endometrial cancer as the first and only immuno-oncology-based treatment to show an overall survival benefit
PHILADELPHIA–GSK plc today announced the US Food and Drug Administration (FDA) has approved Jemperli (dostarlimab-gxly) in combination …
