Zydus Wellness acquires the activities of Heinz India for Rs 4,595 crore and will now own Complan, Glucon-D

Zydus Wellness will acquire 100% of Heinz India's activities for Rs. 4,595 crores, including the rights to the Complan health drink for India, Nepal and Bangladesh.

Under the contract, Zydus Wellness will obtain worldwide rights to the Glucon-D, Nycil brands. The agreement should be finalized early next year.

The operation will be financed by a combination of debt and equity, announced the company's stock market listing.

"With this acquisition, the consumer business turnover exceeds Rs 1,700, making it one of the leading players in the growing market for consumer healthcare", add the folder.

Kraft Heinz unexpectedly decided in September to sell the European holding company that hosts the activities in India and to ask the buyer to absorb the tax losses of this entity, registered in Italy.

Originally, it was intended to sell only Indian businesses and brands. The Italian company is owned by a branch of the US parent company registered in the Netherlands.

Kraft Heinz's India business includes Complan, Nycil talcum, Glucon-D glucose drink and Sampriti Ghee.