IndiaCatalog.com
India News
Search Web Directory
News Home
Wipro, ITC, Cadila take lead in race to acquire Complan
Posted on 13th August 2018
Mumbai: ITC Ltd, Wipro Consumer Care & Lighting Ltd and Cadila Healthcare Ltd are readying to submit binding offers to buy Kraft Heinz India’s popular nutritional drink brand, Complan, two people directly aware of the development said. All three bidders are expected to submit binding bids by 15 September, the deadline set by the investment bankers—JP Morgan and Lazard—managing the transaction, the people cited above said, requesting anonymity as the discussions are private.

“The bids are expected to be in the range of $700-800 million,” one of the two people cited above said.

Kraft Heinz’s plan to sell Complan came soon after rival GlaxoSmithKline initiated the sale of Horlicks. Complan has around 8% share of the ₹ 5,500 crore nutritional drink market in India. The segment is dominated by Cadbury’s Bournvita and GSK’s Boost, apart from Horlicks and Complan.

Malt-based drinks such as Horlicks and Bournvita have, however, seen growth slow from 13.2% in 2014 to 8.6% in 2017, according to Euromonitor International. As a segment, supplement nutrition drinks have registered relatively higher growth than malt-based drinks but have still witnessed their market share slip from 21.3% in 2014 to 11.5% in 2017, Mint reported in June. Over the years, several new competitors such as Wander AG’s Ovaltine and Cadila’s ActiLife have entered this segment, challenging the dominance of existing brands.

Emails sent to Kraft Heinz, ITC, Cadila and Lazard remained unanswered, while Wipro Consumer Care and JP Morgan declined to comment.

The Economic Times reported in July that Wipro Consumer Care & Lighting, ITC, Cadila, Abbott and Emami, along with private equity funds Carlyle and Blackstone, were in exploratory talks with Kraft Heinz to acquire the business.

Kraft is seeking a valuation of close to $1 billion for its consumer foods division, which includes Complan and a few other brands, the report said.

“The transaction involves buying into categories that are distinct from each other and therefore some buyers, especially strategics, may see different value in each of them—some may have huge value for them and some others not so,” said Sanjeev Krishan, leader, deals and private equity, PwC India. “For private equity investors, too, a bolt-on for one of their existing investments is more likely, unless they’d like to set up separate platforms for the different categories the four brands belong to.”

In 2017, Kraft had recognized a $49 million impairment loss due to continued declines in its nutritional beverages business in India, Mint reported in June. The brands of Kraft Heinz, which was formed by the merger of Kraft Foods and Heinz in 2015, in India include Complan, Glucon-D, Nycil, Heinz and Sampriti Ghee. Globally, Kraft Heinz is the fifth-largest food and beverage firm. Its popular global brands include Capri Sun, Classico, Jell-O, Kool-Aid, Lunchables and Maxwell.

Related Companies: ITC Limited   Wipro Technologies (Wipro Ltd)   

Other Latest News
Air India pilot grounded for three months after failing alcohol test
Posted on 15th July 2019
New Delhi: An Air India pilot has been grounded for three months after he tested positive in a pre-flight breath analyser (BA) test here on Saturday.

The pilot wanted to fly as a passenger from Delhi to Bengaluru. Since the flight was full, he requested to fly in the cockpit as an additional crew member.


Amazon’s $700 million training pledge is actually a bargain
Posted on 15th July 2019
New York: Amazon.com Inc. is amazing at turning mundane corporate management decisions into global news events.

Many retailers host annual sale events. But Amazon “celebrates" Prime Day. Many chief executives write notes to their shareholders. But Jeff Bezos pens annual letters with “lessons" and “principle themes" and “important words" to behold. Many companies open satellite offices.


Suzuki’s next electric vehicle in India could be based on Ertiga
Posted on 15th July 2019
NEW DELHI: Suzuki Motor Corp. plans to tap the popular multipurpose vehicle Ertiga to build its second electric vehicle for India, said two people directly aware of the development, as global automakers accelerate efforts to sell more eco-friendly vehicles in a country that is home to some of the world’s most polluted cities.

NZ vs ENG: Cricket World Cup 2019 | Kiwi fans on the outer for thrilling cricket finale
Posted on 15th July 2019
New Zealand cricket fans watched the Black Caps succumb to England in a nerve-shredding Cricket World Cup final Monday, but the country's sports bars were closed as the match reached its climax.

The match was played in the dead of night in New Zealand, starting at 10:15 pm on Sunday and ending around 6:30 am on Monday when the Black Caps lost in the final ball of an extra-time Super Over.


Amazon, Flipkart not on Mukesh Ambani’s radar; Reliance Jio readies platform to wire kirana stores
Posted on 15th July 2019
Reliance Jio, which has plans to foray into e-commerce, will not be taking on the likes of Flipkart and Amazon, at least initially. Instead, the company’s first project on which pilots have started is to build a B2B platform targeted at merchants who run grocery, fruits and vegetable stores in the neighbourhood markets. The company has termed it ‘Hybrid Online-to-Offline’ platform. At a later stage, this B2B platform would be connected to the MyJio app and thus provide the B2C interface also.

» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Wipro, ITC, Cadila take lead in race to acquire Complan
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for Wipro, ITC, Cadila take lead in race to acquire Complan

Most Read News

5 centuries in 9 matches: Rohit Sharma shares the secret of his World Cup record

Government duty bound to achieve fiscal deficit of 3% as per law: Finance Minister Nirmala Sitharaman

Gold prices in India come off record highs

Trai rejects DoT plea to cut spectrum price

Department of Telecom likely to start tracking system for lost mobiles next month

More India News

  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2019 IndiaCatalog.com
    All Rights Reserved
Privacy Statement