Hindustan Unilever acquires Horlicks brand in India for ₹3,045 crore

Hindustan Unilever has acquired malt-based drink brand Horlicks for the Indian market from the UK-based GlaxoSmithKline (GSK) for ₹3,045 crore. It also announced the completion of its merger with GlaxoSmithKline Consumer Healthcare, bringing Boost, Viva and Maltova under its portfolio. The transaction gives GSK a 5.7% stake in HUL while Unilever's stake in HUL will fall from 67.2% to 61.9%.