Zydus Wellness completes its Rs 4,595 crore acquisition of Heinz India
Zydus Wellness, a consumer healthcare firm, has completed its Rs 4,595 crore acquisition of Heinz India's consumer wellness business, including popular brands like Complan and Glucon D.
On October 24 last year, the company had entered into a definitive agreement to acquire Heinz India's business comprising Complan, Glucon D, Nycil and Sampriti Ghee brands along with its two large manufacturing facilities.
Sharvil Patel, Chairman of Zydus Wellness, said, "Closing of this transaction represents a new and exciting chapter for Zydus Wellness as we continue our journey of transformation into a leading player in the wellness domain."
"Together we look forward to leveraging the strengths of the legacy brands and our capabilities to merge science and innovation and drive value for our consumers and our stakeholders," he further stated.
Heinz India, an arm of the US-based Kraft Heinz, has a distribution network of more than 800 and over 20,000 wholesalers covering 29 states.
The company said, "With brands such as Sugar Free, EverYuth and Nutralite, Zydus Wellness has strong brand equity in the food, nutrition and skin care markets. The acquired brands have a strong market presence and a legacy of over 50 years."