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Suntory Beverage & Foods Ltd. Buys GlaxoSmithKline’s Lacozade and Ribena Brands

Japan’s Suntory Beverage & Foods Ltd. has agreed to acquire, Lacozade and Ribena, two soft drink brands from GlaxoSmithKline Plc. (ADR) (NYSE: GSK) in a deal estimated at 1.35 billion pounds or $2.1 billion. The acquisition will allow Suntory, known for its beer and Yamazaki whisky, to beef up its product portfolio and gain traction in international markets, where these brands are present already. GlaxoSmithKline said that it use this money towards repaying debt and some other general corporate purposes.

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