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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/glaxosmithkline-buys-nutrition-firm.jpg"><img class="alignnone size-full" title="GlaxoSmithKline has bought Maxinutrition Group Holdings" src="http://londonglossy.com/wp-content/uploads/2010/12/min-glaxosmithkline-buys-nutrition-firm.jpg" alt="GlaxoSmithKline has bought Maxinutrition Group Holdings"/></a></p>
<p>Pharmaceuticals giant GlaxoSmithKline has bought the company behind Maximuscle protein shakes used by rugby player Gavin Henson, cricket star Stuart Broad and footballer Jermaine Jenas.</p>
<p>Britain&#8217;s biggest drugmaker bought Maxinutrition Group Holdings, Europe&#8217;s top-selling sports nutrition company, from Darwin Private Equity for £162 million.</p>
<p>The muscle building powders will beef up Glaxo&#8217;s growing portfolio of brands that includes Ribena, Sensodyne toothpaste and Lucozade.</p>
<p>Maxinutrition, which also owns Maxifuel dietary supplements and Maxitone muscle toning supplements for women, has increased its sales by 21% over the last three years to £36 million in the year to April 2010.</p>
<p>John Clarke, Glaxo&#8217;s president of consumer healthcare, said, &#8220;This deal will give (Glaxo) a strong presence in the fast developing protein-based sports nutrition market, appealing across a broad spectrum of consumers from elite athletes to sports participants and those seeking additional nutritional supplementation.&#8221;</p>
<p>The brands are currently sold in Europe but Glaxo will market them around the world, added Mr Clarke.</p>
<p>Peter Boddy, chief executive of Hemel Hempstead-based Maxinutrition, said: &#8220;Maxinutrition is a fast growing, focused sports nutrition business with excellent growth prospects and a strong management team &#8211; it&#8217;s a natural fit for (Glaxo) and its ambition to extend and expand its nutritional healthcare business.&#8221;</p>
<p>Last month the Brentford-based company announced it would create about 1,000 jobs and invest £500 million in manufacturing following tax reforms announced by the Government.</p>
<p>It said a planned 10% reduction in corporation tax on profits generated from UK-owned intellectual property would allow the firm to develop new technology, build new facilities and invest in fledgling companies.</p>
<p>Glaxo has research bases at Stevenage and Ware in Hertfordshire and Harlow in Essex.</p>
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