RPT-Suntory to buy GSK drinks brands for $2.1 bln

Mon Sep 9, 2013 3:45am EDT

LONDON, Sept 9 (Reuters) - Japan's Suntory Beverage & Food Ltd has agreed to buy the Lucozade and Ribena brands from GlaxoSmithKline Plc for 1.35 billion pounds ($2.11 billion) in a deal that boosts its soft drinks portfolio and helps it expand into new markets.

The acquisition, announced by the companies on Monday, had been widely anticipated after people close to the process said last week that Suntory was in advanced talks on a deal that would pre-empt an auction of the iconic British drinks.

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