GSK plans Lucozade and Ribena sale

Blackstone, Lion Capital, Permira, KKR, Bain and CVC are all thought to be circling the household names Ribena and Lucozade. Media reports estimate the brands could be sold for up to £766m.

Blackstone reportedly may team up with Lion Capital regarding a possible buyout of the drinks brands. The firms have previously worked together on the Orangina Schweppes Group's €2.6bn sale to Suntory Holdings in September 2009. Paris-based Orangina is the second largest soft drinks manufacturer in Europe.

Suntory and Nestlé have also been named as potential bidders. An auction is not likely to be launched for some months, however, as GSK aims to conclude the review of Lucozade and Ribena by mid-2013 – the company announced a strategic review of the British brands in February, which included a number of options.

GSK chief executive Andrew Witty said the nutrition business could increase investments in certain parts of the world, find a partner or divest the products.

A GSK spokesperson told unquote" that a sale is "an option", but could not confirm the divestment.

GSK's fourth quarter net profits fell close to 35% on last year at £839m.

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