POST Online Media Lite Edition


Kraft Heinz to sell part of India business for about $630 million

Staff Writer |
Kraft Heinz will sell part of its Indian business, including brands such as malt-based drink Complan and energy drink Glucon-D, for 45.95 billion rupees ($627.18 million).

Article continues below

Indian pharmaceutical and consumer products company Zydus Wellness and its parent Cadila Healthcare will jointly buy the assets to expand their portfolio to also include brands such as talcum powder Nycil and clarified butter, Sampriti Ghee, the companies said in a statement on Wednesday.

Complan, along with GlaxoSmithKline’s health drinks brands Horlicks, was very popular until about a decade ago, when consumers used these products for supplemental nutrition along with milk.

Their popularity has since waned, with sales growth slipping, as consumers grew wary of the sugar content in these products and the health claims made by these brands.

“The sale of this niche business fits into our overall global growth strategy and our focus on investing in and growing brands within our core categories,” Kraft Heinz Chief Executive Bernardo Hees said in a statement.

What to read next

Kraft Heinz cuts 700 jobs, 2,500 will leave in total
Deal reached to save Kraft-Heinz facilities and 1,000 jobs in New York
Kraft Heinz considering sale of Complan brand in India