Zydus Wellness’ Acquisition of Heinz India Receives a Nod from Competition Regulator
Deepthi | Myequity news | Date : 11-12-2018 19:10:00 IST
The Competition Commission of India (“CCI”) has granted approval for ZWL’s acquisition of Heinz India Private Limited (“Heinz India”) jointly with Cadila Healthcare Limited. The definitive agreement in relation to this acquisition was signed on 24th October 2018. About Zydus Wellness:
ZWL will primarily be acquiring the business related to the four brands— Glucon—D, Nycil, Sampriti and Complan, through this transaction. Of these, Complan, Glucon—D & Nycil have a legacy of over 50 years and Glucon-D & Nycil are leading brands in their respective markets.
The CCI approval takes ZWL one step closer to completing the acquisition, which is expected to unlock significant value for ZWL by enriching its portfolio and expanding the reach of its distribution network.
Zydus Wellness Ltd is a subsidiary of Cadila Healthcare Ltd. The company operates in one segment, the consumer products. Their products include table margarine and spreads, cosmeceuticals and sweet meat. Their brands include Nutralite, which is table margarine; Sugar Free, which is a low calorie sweetener, and EverYuth, which includes skincare products. They sell their products in India. They have a plant located in Gujarat.