Ahmedabad-based pharmaceutical and healthcare manufacturer Zydus Cadila has bid the highest and most aggressive amount to buy Kraft Heinz’s children milk drink subsidiary ‘Complan’ as well as Glucon-D, and Nycil.

Two famous Kraft Heinz brands – Complan and Glucon-D are up for sale, attracting bidders like Coca Cola and Zydus Cadila as both brands, contributes almost the same (around 40% from each brand) amount to Heinz’s turnover which is around 1,400 crore. According to a report, two companies were in the race to buy these brands, which were Coca-Cola and Zydus. But, a surprise bidder, a private consortium of Apax and Arpwood Partners came into the competition and made a strong play in the bidding deal.

However, Zydus had bid only for the Indian operations and brands, as they find it difficult to get regulatory approvals to buy an offshore entity which has most of its entity in India. The acquisition of Complan brand will be under the Zydus Wellness, a subsidiary of Cadila healthcare Pvt. Ltd. Zydus Wellness produces many popular products which include low-calorie sugar Sugar Free, Everyuth beauty products, Nutralife and Actilife.

One more product will be added under Zydus Wellness when this deal will be officially closed. This deal will be closed within a month, said by one of the officials. Zydus is working with the investment bank Avendus for this deal. Zydus may rope-in a private company partner as well, seeking financial support. After the completion of the deal between Heinz and Zydus, Zydus Wellness will be valued at Rs. 8,500 crore, according to the report.

 

2