Zydus Wellness to acquire subsidiary of Kraft Heinz - Heinz India
Zydus Wellness Ltd. announced that it would acquire Heinz India Pvt. Ltd., a subsidiary of Kraft Heinz, jointly with Cadila Healthcare Ltd at a valuation of Rs 4595 crore. The deal is expected to close in Q4 FY19. This would extend the brand portfolio of the organisation to include brands like Complan, Glucon D, Nycil, and Sampriti Ghee. Additionally, as part of the acquisition, two large factory facilities of Heinz India at Aligarh and Sitarganj and the team working there will be absorbed. According to reports, post the acquisition, Zydus Wellness will have consolidated revenues of about Rs. 1700 crores.