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Unilever Adds Horlicks in $3.8 Billion Deal for Glaxo India

  • Acquisition lifts Dove soap maker’s presence in growing market
  • Sale raises Glaxo’s cash for buyout of Novartis consumer unit
Unilever In Exclusive Talks To Buy Horlicks From GlaxoSmithKline
Photographer: Rob Dawson/Bloomberg
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Unilever agreed to acquire GlaxoSmithKline Plc’s Indian consumer business, including malted milk drink Horlicks, for 3.3 billion euros ($3.8 billion) to boost its footprint in one of the world’s fastest-growing major economies.

It’s one of the Anglo-Dutch company’s largest acquisitions under departing Chief Executive Officer Paul Polman, who in January is handing over to personal-care head Alan Jope. It’s also the first major deal since a plan to combine the company’s headquarters in the Netherlands collapsed under investor pressure in October.