Maxinutrition – the company behind Maximuscle – has been snapped up by healthcare and sports drink giant GlaxoSmithKline (GSK) for £162 million.
The deal sees GSK take a major step forward in the fast growing sports nutrition category – with Maxinutrition brands added to GSK’s Lucozade Sport roster of products.
GSK said it would buy all of Maxinutrition’s shares from current owners Darwin Private Equity. The terms of the deal are understood to include repayment of Maxinutrition’s outstanding debt.
“This deal will give Glaxo a strong presence in the fast developing protein-based sports nutrition market,” said John Clarke, President of GSK’s Consumer Healthcare division.
GSK is hoping to use its existing global distribution network to sell and market Maxinutrition’s brands – which are currently sold via a diverse number of outlets, particularly gyms and speciality stores.