US-based food and beverage major The Kraft Heinz Company is looking to sell its milk-based nutritional beverage brand Complan in India, Bloomberg reported.
Citing people aware of the development, the report said that the brand could be valued at $1 billion (about Rs 6,800 crore).
Kraft Heinz’s brands in India include Complan, Glucon-D, Nycil, Heinz and Sampriti Ghee.
Local companies and private equity firms could be among likely suitors for the Complan brand, according to the report.
The development comes after GlaxoSmithKline PLC initiated a review of milk drinks brand Horlicks and other nutrition products businesses to support its $13 billion buyout of Novartis’ 36.5% stake in their consumer healthcare joint venture.
The strategic review will include an assessment of GlaxoSmithKline PLC’s 72.5% stake in Mumbai-listed GlaxoSmithKline Consumer Healthcare Ltd.
Meanwhile, the Mint newspaper reported that Rajkot-based Ban Labs Pvt. Ltd is in advanced negotiations to raise around Rs 400 crore from homegrown private equity firm True North.
Citing two people with knowledge of the development, Mint said True North is looking to acquire a significant minority stake in the company's Sesa Hair Oil brand, which could be hived off as separate entity.
Ban Labs is the maker of beauty care, personal care and home care products under the brands Sesa, Charm and Glow, Caley and Dr’s Care, according to its website.