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news.GlaxoSmithKline (GSK) has agreed to acquire Maxinutrition, a UK company that manufactures protein-enhanced functional nutrition products, for a cash consideration of £162m including the repayment of outstanding debt.
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Under the terms of the agreement, GSK will acquire Maxinutrition’s brands, including Maximuscle.
GSK said the deal will extend its reach into wider categories, complementing its existing Nutritional Healthcare business.
GSK Consumer Healthcare president John Clarke said the deal will give the cmopany 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 said.
Maxinutrition CEO Peter Boddy said 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.