Complan

The broader milk and malt-based drinks market - once a staple in Indian homes - has seen its growth slow since the mid-2010s. Rising competition and evolving nutritional expectations have forced legacy brands to innovate.

Zydus Wellness to raise Rs 2,575 crore from Cadila, promoters and PEs to fund Heinz India acquisition

Cadila Healthcare holds around 72.08 percent of Zydus Wellness, while the Zydus Family Trust holds about 0.45 percent.

Opinion | Why Horlicks is unlikely to boost Unilever

Horlicks controls around a half of India’s health food drink market and the Indian mother still swears by the brand’s legacy. But despite the added distribution muscle, Horlicks might just end up pressuring Unilever’s financials

Zydus Wellness’ Kraft Heinz bet healthy, but requires heavy lifting

The M&A transaction can be EPS accretive provided there is higher private equity or third party participation.

Opinion | Why Zydus bought Kraft’s Complan and not GSK’s Horlicks

Interestingly, Complan’s competitor and the country’s biggest health drink brand Horlicks (currently owned by GSK Consumer Healthcare) is also on the block since March. It has a market share of at least four times that of Complan.

ITC pulls out of Horlicks, Complan acquisition race, says valuations too high

Diversified conglomerate indicates it would venture into the health food segment and build its own brand.

Wipro, ITC, Cadila in the race to acquire Complan

In 2017, Kraft had reported an impairment loss of $49million because of dwindling beverages business in India.

Horlicks: A potential nutrient fit for select FMCG giants

While the category itself undergoes a change, even the existing business of GSK Consumer holds value for other FMCG players and there is a scope for operational synergies