• Friday, August 19, 2022

Business

Kraft Heinz To Sell Indian Brands Complan, Glucon-D, Nycil And Sampriti To Zydus Wellness

The transaction is expected to close in early 2019, subject to regulatory approvals of the competition commission of India and other customary closing conditions, Kraft Heinz company said in a statement (Photo: REUTERS/Anushree Fadnavis).

By: Radhakrishna N S

The Kraft Heinz Company announced on Wednesday (24) that it has entered into a deal to sell Indian brands Complan, Glucon-D, Nycil, and Sampriti to Zydus Cadila for Rs 46 billion (£483.62 million) on a debt free and cash free basis. The transaction is expected to close in early 2019, subject to regulatory approvals of the competition commission of India and other customary closing conditions, Kraft Heinz Company said in a statement. “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,” said Bernardo…

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