Kraft Heinz to sell part of India business for about $630 millionStaff Writer | October 25, 2018
Kraft Heinz will sell part of its Indian business, including brands such as malt-based drink Complan and energy drink Glucon-D, for 45.95 billion rupees ($627.18 million).
America Complan was very popular until about a decade ago
Complan, along with GlaxoSmithKline’s health drinks brands Horlicks, was very popular until about a decade ago, when consumers used these products for supplemental nutrition along with milk.
Their popularity has since waned, with sales growth slipping, as consumers grew wary of the sugar content in these products and the health claims made by these brands.
“The sale of this niche business fits into our overall global growth strategy and our focus on investing in and growing brands within our core categories,” Kraft Heinz Chief Executive Bernardo Hees said in a statement. ■