Kraft Heinz: sells four Indian niche brands
(CercleFinance.com) - Kraft Heinz has entered into a definitive agreement to sell four Indian consumer brands to Indian pharmaceutical group Zydus Cadila for approximately 625 million dollars, the food giant said on Wednesday.
While the food giant still considers India a "key market," Kraft Heinz said it sees nutrition beverage Complan, glucose drink Glucon-D, talcum powder Nycil and fermented milk Sampriti as "niche" businesses and that it prefers to focus on Heinz sauces and Kraft business in India.
The transaction is expected to close in early 2019.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
While the food giant still considers India a "key market," Kraft Heinz said it sees nutrition beverage Complan, glucose drink Glucon-D, talcum powder Nycil and fermented milk Sampriti as "niche" businesses and that it prefers to focus on Heinz sauces and Kraft business in India.
The transaction is expected to close in early 2019.
Copyright (c) 2018 CercleFinance.com. All rights reserved.