GlaxoSmithKline sell Lucozade and Ribena brands

Popular soft drinks brands Lucozade and Ribena are to be swallowed by Orangina Schweppes owner Suntory for €1.6bn.

GlaxoSmithKline is selling the historic brands to Japanese drinks group Suntory Beverage & Food after putting them up for sale earlier this year.

Lucozade and Ribena, which date back to 1927 and the 1930s respectively, are made in the UK at a factory in Coleford, Gloucestershire, which employs around 500 staff.

Drugs giant Glaxo kicked off their sale in April after concluding they would grow better under a different owner. Instead it plans to increase the focus of its consumer healthcare business, which includes brands such as Sensodyne, Panadol, Aquafresh and Nicorette.