Zydus has outbid the world’s largest beverage company Coca-Cola for a portfolio including children’s milk drink Complan.
Zydus Cadila Group is leading the race for acquiring Kraft Heinz Company's consumer brand business in India with Rs 4,500 crore bid.
Zydus has outbid the world's largest beverage company Coca-Cola for a portfolio including children's milk drink Complan.
The Kraft Heinz deal is expected to finalise in a month. The Ahmedabad-based Cadila Group is working with investment bank Avendus, and it may rope in a private equity partner for financing support.
Last month, Kraft Heinz decided to sell the European holding company that houses the India operations and wants the buyer to absorb the tax losses of that entity, registered in Italy. The company's original plan was to sell only the Indian operations and brands.