Lagos — Managing Director, GlaxoSmithKline (GSK) Consumer Nigeria Plc, Chidi Okoro said the company would continue to bottle and distribute Lucozade and Ribena in Nigeria despite the acquisition of the brands by a Japenese beverages firm, Suntory at £1.35 billion.
Okoro said the divestment of the parent company from the production of the
two major brands would not in any way affect Nigeria's subsidiary from distributing the brands to Nigerian consumers .
Suntory Beverages and Food Limited (SBF) is expected to commence production of the two brands from January 1, 2014, according to Okoro.
"We have been involved in a couple of transactions. We undertook strategic review of our portfolio as relates to Lucozade and Ribena . We came to agreement to be able to continue to provide those brands to consumers globally. GSK UK came to a conclusion after final analysis that it was better to sell the brands to a company that can manage it, globalise those brands and deliver the best value to the shareholders and it has been divested to Suntory Beverages and Food Limited. That is the stage we are today", he said.
He said though the brands contribute 50 per cent to the company's annual income, such impact, he said may not be absolute and insignificant.