GlaxoSmithKline said on Dec. 13 that it has agreed to buy protein-drinks firm Maxinutrition from the private equity group Darwin for about $255 milion.
Maxinutrition produces protein-enhanced products that are aimed at consumers who want to increase their muscle tone, power and strength. Its top-selling brands are Maximuscle, Maxifuel and Maxitone.
The acquisition will bolster GSK's portfolio of consumer healthcare brands that already include Lucozade sports drinks and Sensodyne toothpaste.
"This deal will give GSK a strong presence in the fast developing protein-based sports nutrition market," said GSK's consumer healthcare president John Clarke.
The Maxinutrition brands would appeal "across a broad spectrum of consumers, from elite athletes to sports participants and those seeking additional nutritional supplementation."
He added: "The acquisition is a demonstration of GSK's strategy to expand our consumer healthcare business through appropriate bolt-on acquisitions which meet our strict financial criteria."
Maxinutrition, Europe biggest sports nutrition company by market share, enjoyed sales of about 36 million pounds in its financial year to the end of April.
Copyright Agence France-Presse, 2010
