Consumer healthcare firm Zydus Wellness on Wednesday announced to complete its Rs 4,595-crore acquisition of Heinz India's consumer wellness business, which includes popular brands Complan and Glucon D.
The acquisition was announced on October 24 last year when the company had entered into a definitive agreement to acquire Heinz India's business comprising Complan, Glucon D, Nycil and Sampriti Ghee brands along with its two large manufacturing facilities.
Zydus Wellness Chairman Sharvil Patel said: "Closing of this transaction represents a new and exciting chapter for Zydus Wellness as we continue our journey of transformation into a leading player in the wellness domain."
He further said: "Together we look forward to leveraging the strengths of the legacy brands and our capabilities to merge science and innovation and drive value for our consumers and our stakeholders."
Heinz India, a subsidiary of the US-based Kraft Heinz, has a distribution network of over 800 and over 20,000 wholesalers covering 29 states.
With brands such as Sugar Free, EverYuth and Nutralite, Zydus Wellness has a strong brand equity in the food, nutrition and skin care markets, the company said.
"The acquired brands have a strong market presence and a legacy of over 50 years," the company said.
Cadila Healthcare holds a majority stake in Zydus Wellness.
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