Deals
Zydus to Pay $628 Million for Some Kraft Heinz India Brands
- Complan, Glucon-D among brands to be acquired as part of deal
- Health-food drinks market in India seeing intense competition
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Zydus Wellness Ltd., with parent Cadila Healthcare Ltd., agreed to pay 46 billion rupees ($628 million) to acquire some Kraft Heinz Co. businesses in India to strengthen their presence in the world’s fastest growing major economy.
Zydus will gain control of nutrition drink Complan, instant-energy drink Glucon-D, talcum powder brand Nycil and ghee brand Sampriti from the acquisition of Heinz India Pvt., Zydus said in a statement on Wednesday. Zydus will use a mix of debt and equity to fund the transaction and “select leading private equity firms have committed to partnering the transaction by way of equity support,” it said in the exchange statement.