DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5

Kraft Heinz Completes Sale Of Indian Brands To Zydus Wellness

By Dayeeta Das
Share this article
Kraft Heinz Completes Sale Of Indian Brands To Zydus Wellness

Kraft Heinz has announced that it has completed the sale of its Indian brands - Complan, Glucon-D, Nycil, and Sampriti - to Zydus Wellness Limited and its affiliate.

'Global Growth Strategy'

Chief executive of Kraft Heinz, Bernardo Hees, said, “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, and where we see a clear path to sustainable competitive advantage.”

The Deal

As part of the deal, Zydus Wellness Limited and an affiliate have acquired 100% of the food and beverage giant's equity shares in Heinz India Private Limited.

It comprises Complan, Glucon-D, Nycil and Sampriti brands, and two manufacturing facilities, which together employ around 760 people.

In October of last year, Kraft Heinz announced plans to sell part of its Indian business for 45.95 billion rupees (approximately €550 million).

© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine

ADVERTISEMENT
Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.