Kraft Heinz Co has agreed to sell a portfolio of its Indian businesses, including children’s drink brand Complan, to Indian drugmaker Zydus Wellness Ltd, Bloomberg reported on Tuesday, citing sources.
The deal with Ahmedabad-based Zydus, which is a unit of Cadila Healthcare Ltd, could be announced as early as this week, the report said, adding that Zydus has been discussing a value of about 46 billion rupees ($625 million) for the businesses.
Earlier this month, the Indian media had reported that Zydus was close to a deal with Kraft Heinz for brands including Glucon-D and Nycil.
Kraft Heinz declined to comment on the report. Cadila Healthcare and Zydus Wellness did not immediately respond to Reuters request for comment.
By Soundarya J
Upon FoodBev Media’s return from Vitafoods 2022 – which took place from 10-12 May in Geneva, Switzerland – the team reflects on the event’s aim to bring together international nutraceutical suppliers and experts from across the globe.
Following a strategic review last year, Mondelēz International is planning to sell its developed chewing gum business, which includes brands Trident and Dentyne. This is in addition to offloading its Halls cough drop brand, as the food giant focuses on generating 90% of revenue in its chocolates and biscuits businesses, including baked snacks.
Givaudan has unveiled NaNino+, a patent-pending combination of plant-based ingredients and natural flavorings that can replace nitrite in processed meat. Designed with natural ingredients, it provides a lasting multi-sensorial food experience with a good taste, color and freshness.