Maxinutrition is Europe's No. 1 sports nutrition company by market share and has delivered sales growth of approximately 21% CAGR over the last 3 years. The company recorded sales of approximately £36 million for the fiscal year ended April 2010.
Under the terms of this agreement, GSK will acquire Maxinutrition's brands, including Maximuscle, the leading brand in the UK and European sports nutrition market. The deal will extend GSK's reach into wider categories, complementing its existing Nutritional Healthcare business. GSK will also bring its marketing excellence and R&D innovation capability to extend the growth of Maxinutrition in the UK, European and International markets where the products are available.
John Clarke, President Consumer Healthcare, said, "This deal will give GSK a strong presence in the fast developing protein-based sports nutrition market, appealing across a broad spectrum of consumers from elite athletes to sports participants and those seeking additional nutritional supplementation. GSK will invest behind Maxinutrition's science-proven products to extend the growth of Maxinutrition within its UK and European footprint and expand to the global marketplace, where GSK has existing infrastructure and capabilities. 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."
Peter Boddy, CEO, Maxinutrition, said, "Maxinutrition is a fast growing, focused sports nutrition business with excellent growth prospects and a strong management team - it's a natural fit for GSK and its ambition to extend and expand its Nutritional Healthcare business. GSK's strong commercial and R&D capability, coupled with the investments being made in expanding their global nutritional healthcare franchise in new markets and territories, offer tremendous new opportunities to develop the Maxinutrition brands and continue to deliver impressive growth in the coming years."
GlaxoSmithKline - one of the world's leading research-based pharmaceutical and healthcare companies - is committed to improving the quality of human life by enabling people to do more, feel better and live longer. For further information please visit www.gsk.com.
Maxinutrition - Maxinutrition, the parent company of Maximuscle, Maxifuel and Maxitone, is Europe's leading sports nutrition company.
Maximuscle is targeted at consumers who are focused on gaining muscle and increasing strength and power. For further information please visit www.maximuscle.com.
Maxifuel was launched in June 2010 with a new range of products designed for endurance, targeting sports men and women to whom performance is critical. For further information please visit www.maxifuel.com.
Maxitone is a product range designed for healthy active women to aid toning and weight management. For further information please visit www.maxitone.com.