COLEFORD'S leading employer, GlaxoSmithKline, has sold its Lucozade and Ribena brands to a Japanese firm as part of a £1.35 billion deal.

The jobs of more than 500 Coleford factory workers will be transferred - although the new owner's long term plans for the Coleford plant are not yet known.

The sale to Suntory Beverage and Food limited will be completed by the end of the year, subject to regulatory approvals.

Site director Dave Morley said: "It's an important day for Coleford. this year, Lucozade and Ribena have been performing particularly well and when you look at the uncertainty surrounding the sale it is a huge testament to the commitment of the workforce and the pride the workforce has in those brands.

Forest MP Mark Harper added: "I have kept in touch with GlaxoSmithKline since they announced their intention to sell the business. I will look to meet the new owners in due course to understand their plans for the business and to argue for more investment and jobs to be located at the Coleford plant."

For more on this story, read The Forester.