Kraft Heinz brands sold
US-based Kraft Heinz Co. has announced a deal to sell off several of its Indian brands for US$625 million.
Zydus Wellness Ltd. will acquire Complan, Glucon-D, Nycil and Sampriti in a deal that is expected to be finalised in early 2019, pending regulatory approvals.
Complan is a brand of milk drinks marketed as helping with nutrition and growth, while Glucon-D is a line of energy drinks, according to the company’s website. Nycil is a line of skincare products.
The company estimated the business being sold generates about US$150 million in net sales, and shouldn’t have a material impact on Kraft Heinz’s annual results.