(BRK.A), (BRK.B)
The Kraft Heinz Company completed the sale of Indian brands Complan, Glucon-D, Nycil and Sampriti to Zydus Wellness Limited and its affiliates.
“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, and where we see a clear path to sustainable competitive advantage,” said Bernardo Hees, Chief Executive Officer of Kraft Heinz.
Under the terms of the agreement, Kraft Heinz sold to Zydus Wellness Limited and an affiliate 100% of its equity shares in Heinz India Private Limited, which is comprised of Complan, Glucon-D, Nycil and Sampriti brands, and two manufacturing facilities, with approximately 760 employees associated with these brands and operations.
© 2019 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.