Completion of Horlicks acquisition from GSK

RNS Number : 4372I

Unilever PLC

01 April 2020

 

Unilever announces completion of Horlicks acquisition from GSK

London/Rotterdam 1st April 2020 :  Unilever today announced that Hindustan Unilever Limited (HUL), India's largest fast-moving consumer goods company and Unilever's listed subsidiary in India, has successfully completed the merger of GlaxoSmithKline Consumer Healthcare Limited (GSKCH) with HUL.

HUL announced the merger of GlaxoSmithKline Consumer Healthcare Ltd with HUL on 3rd December 2018, in line with the company's strategy to evolve the Foods and Refreshment portfolio into higher growth segments, subject to obtaining necessary approvals. All approvals have now been secured. As previously indicated, following completion of the transaction, Unilever's holding in HUL will be diluted from 67.2% to 61.9%.

Unilever has also completed the related acquisition of Horlicks brands rights and other Consumer Healthcare nutrition assets from GSK in other predominantly Asian markets. Bangladesh closing is expected to follow later this quarter, subject to local procedures.

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Investors: Clio Adam

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About Unilever

Unilever is one of the world's leading suppliers of Beauty & Personal Care, Home Care, and Foods & Refreshment products with sales in over 190 countries and reaching 2.5 billion consumers a day. It has 155,000 employees and generated sales of €52 billion in 2019. Over half of the company's footprint is in developing and emerging markets. Unilever has around 400 brands found in homes all over the world, including Dove, Knorr, Dirt Is Good, Rexona, Hellmann's, Lipton, Wall's, Lux, Magnum, Axe, Sunsilk and Surf.

Unilever's Sustainable Living Plan (USLP) underpins the company's strategy and commits to:

• Helping more than a billion people take action to improve their health and well-being by 2020.

• Halving the environmental impact of our products by 2030.

• Enhancing the livelihoods of millions of people by 2020.

The USLP creates value by driving growth and trust, eliminating costs and reducing risks. The company's sustainable living brands are growing 69% faster than the rest of the business and delivered 75% of the company's growth in 2018.

Since 2010 we have been taking action through the Unilever Sustainable Living Plan to help more than a billion people improve their health and well-being, halve our environmental footprint and enhance the livelihoods of millions of people as we grow our business. We have already made significant progress and continue to expand our ambition - most recently committing to ensure 100% of our plastic packaging is fully reusable, recyclable or compostable by 2025. While there is still more to do, we are proud to have been recognised in 2018 as sector leader in the Dow Jones Sustainability Index and as the top ranked company in the Globescan/SustainAbility Global Corporate Sustainability Leaders survey, for the eighth-consecutive year.

For more information about Unilever and its brands, please visit www.unilever.com .

For more information on the USLP: www.unilever.com/sustainable-living/

Cautionary Statement

This announcement may contain forward-looking statements, including 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995. Words such as 'will', 'aim', 'expects', 'anticipates', 'intends', 'looks', 'believes', 'vision', or the negative of these terms and other similar expressions of future performance or results, and their negatives, are intended to identify such forward-looking statements. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Unilever Group (the 'Group'). They are not historical facts, nor are they guarantees of future performance. 

Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Among other risks and uncertainties, the material or principal factors which could cause actual results to differ materially are: Unilever's global brands not meeting consumer preferences; Unilever's ability to innovate and remain competitive; Unilever's investment choices in its portfolio management; inability to find sustainable solutions to support long-term growth including to plastic packaging; the effect of climate change on Unilever's business; significant changes or deterioration in customer relationships; the recruitment and retention of talented employees; disruptions in our supply chain and distribution; increases or volatility in the cost of raw materials and commodities; the production of safe and high quality products; secure and reliable IT infrastructure; execution of acquisitions, divestitures and business transformation projects; economic, social and political risks and natural disasters; financial risks; failure to meet high and ethical standards; and managing regulatory, tax and legal matters. These forward looking statements speak only as of the date of this announcement. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Further details of potential risks and uncertainties affecting the Group are described in the Group's filings with the London Stock Exchange, Euronext Amsterdam and the US Securities and Exchange Commission, including in the Annual Report on Form 20-F 2019 and the Unilever Annual Report and Accounts 2019.

 

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