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
The Coca-Cola Co. has promoted Evguenia (Jeny) Stoichkova to president of global ventures, effective Jan. 1, 2023. Ms. Stoichkova joined Coca-Cola Bulgaria in 2004 and was most recently the president of the company’s Eurasia & Middle East division, a role she has held since 2021.
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