Unilever announces completion of Horlicks acquisition from GSK

London/Rotterdam 1st April 2020:  Unilever today announced that Hindustan Unilever Limited (HUL), India's largest fast-moving consumer goods company and Unilever's listed subsidiary in India, has successfully completed the merger of GlaxoSmithKline Consumer Healthcare Limited (GSKCH) with HUL.

HUL announced the merger of GlaxoSmithKline Consumer Healthcare Ltd with HUL on 3rd December 2018, in line with the company's strategy to evolve the Foods and Refreshment portfolio into higher growth segments, subject to obtaining necessary approvals. All approvals have now been secured. As previously indicated, following completion of the transaction, Unilever's holding in HUL will be diluted from 67.2% to 61.9%.

Unilever has also completed the related acquisition of Horlicks brands rights and other Consumer Healthcare nutrition assets from GSK in other predominantly Asian markets. Bangladesh closing is expected to follow later this quarter, subject to local procedures.

Contact

Media: Clare Cavana

Clare.Cavana@Unilever.com

+44 (0) 782 708 5145 

Investors: Clio Adam

Investor.Relations@Unilever.com

+44 (0)20 7822 6830

About Unilever

Unilever is one of the world's leading suppliers of Beauty & Personal Care, Home Care, and Foods & Refreshment products with sales in over 190 countries and reaching 2.5 billion consumers a day. It has 155,000 employees and generated sales of €52 billion in 2019. Over half of the company's footprint is in developing and emerging markets. Unilever has around 400 brands found in homes all over the world, including Dove, Knorr, Dirt Is Good, Rexona, Hellmann's, Lipton, Wall's, Lux, Magnum, Axe, Sunsilk and Surf.

Unilever's Sustainable Living Plan (USLP) underpins the company's strategy and commits to:

• Helping more than a billion people take action to improve their health and well-being by 2020.

• Halving the environmental impact of our products by 2030.

• Enhancing the livelihoods of millions of people by 2020.

The USLP creates value by driving growth and trust, eliminating costs and reducing risks. The company's sustainable living brands are growing 69% faster than the rest of the business and delivered 75% of the company's growth in 2018.

Since 2010 we have been taking action through the Unilever Sustainable Living Plan to help more than a billion people improve their health and well-being, halve our environmental footprint and enhance the livelihoods of millions of people as we grow our business. We have already made significant progress and continue to expand our ambition - most recently committing to ensure 100% of our plastic packaging is fully reusable, recyclable or compostable by 2025. While there is still more to do, we are proud to have been recognised in 2018 as sector leader in the Dow Jones Sustainability Index and as the top ranked company in the Globescan/SustainAbility Global Corporate Sustainability Leaders survey, for the eighth-consecutive year.

For more information about Unilever and its brands, please visit www.unilever.com.

For more information on the USLP: www.unilever.com/sustainable-living/

Cautionary Statement

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