From Panadol to Ribena: What GSK’s gradual exit means

August 7, 2023 Blossom 0

The popular Ribena and Lucozade beverages had not reached their breaking point in Nigeria when UK-based GSK sold its beverage division to Japanese company Suntory Beverage & Food in 2013 so that it could concentrate on its healthcare business. Only the previous year, Ribena and Lucozade combined yearly sales were close to half a billion pounds, and GSK Nigeria wanted to keep the business going. The Nigerian company later succeeded in obtaining from Suntory the rights necessary to keep producing and selling the goods in Nigeria for another ten years, through August 2023. Not even halfway into the 10-year arrangement, GSK Nigeria sold the business back to Suntory Beverage and Food Nigeria in July 2016, […]