Two new major names have thrown their hats in the ring to acquire GlaxoSmithKline’s consumer nutrition arm. Kellogg and UK food company Reckitt Benckiser are the new entrants, joining Nestle, Unilever, Coca-Cola and Mondelez as contenders for the takeover, which is worth almost $4.5 billion.
Kellogg’s announcement came as a surprise, CNBC reports, while Reckitt Benckiser has been more aggressive in making acquisitions.
GSK’s nutrition business includes leading malt-based nutritional brands Horlicks and Boost. Consumer food acquisitions have helped GSK boost its sales more than its health and hygiene business.