GSK Consumer Healthcare India (Horlicks) acquired by Hindustan Unilever and Unilever
Hindustan Unilever and Unilever acquired GSK Consumer Healthcare India (Horlicks), an India, Bangladesh & Asian Markets supplements brand, on Apr 1, 2020.
Transaction summary
- Target
- GSK Consumer Healthcare India (Horlicks)
- Acquirer
- Hindustan Unilever and Unilever
- Seller
- GlaxoSmithKline plc (GSK)
- Announced
- 2018-12-03
- Completed
- 2020-04-01
- Geography
- India, Bangladesh & Asian Markets
- Type
- Acquisition
- Deal type
- Control
- Stake acquired
- 100%
- First added
- 2026-10-31
- Latest update
- 2026-10-31
Value and multiples
100% enterprise value
EUR 5.3B
100% enterprise value | EUR
Basis: Public source
Reported price is assumed to be 100% EV unless stated otherwise. Partial-stake estimates are qualified in the basis notes.
Approx. $6.0B USD using FX date 2018-12-03 at 1.1332 EUR/USD.
EV / revenue
9.63x
Period: FY2018
Basis: Public source
EV / EBITDA
-
EBITDA basis not stated
Basis: Public source
Amounts paid and other reported values
Original reported amounts and bases; a stake payment is distinct from the estimated whole-company valuation.
Consideration: EUR 5.3B
Basis
- Reported value: €5.29bn. Multiples use revenue of €550m (FY2018). Paid in cash and Hindustan Unilever shares; excludes the separate Bangladesh business.
Source summary
UNILEVER PLC - Form 20-F - FY2020
ConfirmedThe total consideration paid was €5,294 million comprised of €449 million in cash and €4,845 million in shares of Hindustan Unilever Limited
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