ITC open to acquisition of Horlicks at 'right price'

Diversified conglomerate ITC Ltd today said it is open to acquisition of GlaxoSmithKline's (GSK) Horlicks brand when it is put up for sale, provided the price is "right".

"We would explore buying the Horlicks brand if it is up for sale and at a right price," managing director of ITC Sanjiv Puri said.

According to reports, ITC is in the list of suitors for the popular malt-based health drink brand Horlicks. Nestle, Dabur, Mondalez, Kraft Heinz and Hindustan Unilever were the others also believed to be in the fray.

GSK had gone for a strategic review of the Horlicks brand to fund the Novartis deal pegged at USD 13 billion.