The company behind Lucozade and Ribena has sold the brands to Japanese company Suntory Beverage and Food for €1.6 billion.

Suntory snapped up the brands, which total sales of almost €600 million per year, seven months after the British drug maker GlaxoSmithKline put them up for sale.

Suntory will continue to sell the two brands in the European market as it has done with Orangina and Schweppes, two other drink brands it purchased in 2009 for €2.6 billion.

GlaxoSmithKline said it intends to focus instead on its consumer healthcare business.