06/09/2013 07:11 BST | Updated 06/09/2013 08:49 BST

Lucozade And Ribena Could Be Sold For £1.5bn To Japanese Drinks Firm Suntory

General view of Ribena and Lucozade bottles.

GlaxoSmithKline, owners of Lucozade and Ribena, is in "advanced talks" to sell the two drink brands to the Japanese group Suntory Beverage & Food in a deal worth around £1.5 billion £1bn.

The pharmaceutical giant could tie up a deal to sell its brands within days, at an estimated value of between £1 billion to £1.5 billion, as reported by Sky News.

This would mark further expansion for Suntory into the European drinks market after buying Orangina Schweppes in 2009.

GSK announced its intention to sell Lucozade and Ribena in APril, as the company sought to focus on its consumer health business.

The two drink brands have annual sales of just over £500m a year. A £1.5 billion valuation for the brands would be nearly 15 times their projected 2013 profits.