Chennai: Anglo-Dutch consumer goods company Unilver PLC has emerged as the top contender for the nutrition business of GlaxoSmithKline consisting of popular brands like Horlicks in India, media reports suggest.
Ending almost four-month long auction process in which several companies including CocaCola, Kraft Heinz and Nestle joined the intense bidding process, Unilever emerged as the leading company, said reports.
GlaxoSmithKline has entered into ‘exclusive negotiations’ with Unilever to sell its nutrition business for $4 billion leaving behind the Vevey-headquarted Swiss food and beverages firm Nestle, they said.
If the deal is sealed in favour of Unilever, it would further consolidate the position of its Indian subsidiary Hindustan Unilever, which is expanding its portfolio in the food & beverages segment.