June 21, 2018
Kraft Heinz Co. is considering a sale of children’s milk drink brand Complan in India, which could fetch about $1 billion, Kraft Heinz is working with an adviser to device interest in the business. The brand could attract local companies and private equity firms.
Consumer acquisitions in India have more than doubled this year to to $7.7 billion, up from $3.4 billion during the same period in 2017, data compiled by Bloomberg show. Kraft Heinz is bringing Complan to market as U.K. pharmaceutical firm GlaxoSmithKline weighs selling its stake in its Indian consumer health subsidiary, which owns malted milk drinks brand Horlicks.
Kraft Heinz bought Complan from Glaxo in 1994. Controlled by Warren Buffett’s Berkshire Hathaway Inc. and private equity firm 3G Capital, Kraft Heinz reported better-than-expected profit in May. Management said it’s still eyeing acquisitions after Unilever rejected its takeover bid last year.