12.13.10
GlaxoSmithKline has acquired Maxinutrition, a U.K. company that manufactures protein-enhanced functional nutrition products, from Darwin Private Equity.
Subject to approval from the Office of Fair Trading, GSK will acquire 100% of the shares of Maxinutrition for a cash consideration of approximately £162 million including the repayment of outstanding debt.
Maxinutrition is Europe’s No. 1 sports nutrition company by market share and has delivered sales growth of approximately 21% CAGR over the last 3 years. The company recorded sales of approximately £36 million for the fiscal year ended April 2010.
Under the terms of this agreement, GSK will acquire Maxinutrition’s brands, including Maximuscle, the leading brand in the U.K. and European sports nutrition market. The deal will extend GSK’s reach into wider categories, complementing its existing Nutritional Healthcare business. GSK will look to extend the growth of Maxinutrition in the U.K., European and international markets where the products are available.
John Clarke, president, 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 U.K. and European footprint and expand to the global marketplace, where GSK has existing infrastructure and capabilities. The acquisition is a demonstration of GSK’s strategy to expand our Consumer Healthcare business through appropriate bolt-on acquisitions which meet our strict financial criteria.”
Subject to approval from the Office of Fair Trading, GSK will acquire 100% of the shares of Maxinutrition for a cash consideration of approximately £162 million including the repayment of outstanding debt.
Maxinutrition is Europe’s No. 1 sports nutrition company by market share and has delivered sales growth of approximately 21% CAGR over the last 3 years. The company recorded sales of approximately £36 million for the fiscal year ended April 2010.
Under the terms of this agreement, GSK will acquire Maxinutrition’s brands, including Maximuscle, the leading brand in the U.K. and European sports nutrition market. The deal will extend GSK’s reach into wider categories, complementing its existing Nutritional Healthcare business. GSK will look to extend the growth of Maxinutrition in the U.K., European and international markets where the products are available.
John Clarke, president, 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 U.K. and European footprint and expand to the global marketplace, where GSK has existing infrastructure and capabilities. The acquisition is a demonstration of GSK’s strategy to expand our Consumer Healthcare business through appropriate bolt-on acquisitions which meet our strict financial criteria.”
