A&O, CC drink to Suntory’s £1.35bn Ribena and Lucozade acquisition

legalweek

Allen & Overy (A&O) and Clifford Chance (CC) have scored the leading roles on GlaxoSmithKline’s (GSK’s) £1.35bn sale of its Ribena and Lucozade brands to Japan’s Suntory Beverage & Food.

The UK healthcare company has sold off the well-known drink brands after a strategic review which began in February this year. Ribena and Lucozade, which date back to 1927 and 1937 respectively, brought in around £500m for GSK last year in annual sales.