Inside BENEO’s new pulse plant: pioneering sustainable protein from faba beans
Zydus Wellness Ltd. and its parent Cadila Healthcare Ltd. have jointly agreed to acquire the Indian portfolio of Kraft Heinz Co., which includes children’s milk drink Complan, for Rs 4,595 crore.
Zydus will fund the acquisition via a mix of debt and equity, the company said in an exchange filing today. In addition to Complan, the brands being acquired include the Glucon D instant energy drink, Nycil talcum powder and Sampriti clarified butter.
Zydus Wellness said the deal will unlock value for the company by enriching its portfolio and expanding its reach. The deal is expected to close in the fourth quarter of current financial year subject to regulatory approvals, said Zydus Wellness.
It also said the transaction is expected to be EPS- or earnings per share-accretive, which means the deal is expected to add to its earnings.
This acquisition will be an ideal addition to Zydus Wellness, supporting our aspirations to grow in the consumer wellness space by providing multiple choices to consumers,” Zydus Wellness chairman Sharvil Patel said.
After the acquisition, Zydus Wellness said it will have consolidated revenue of about Rs. 1,700 crore “making it one of the strongest players in the fast-growing consumer healthcare mark”.