June 18, 2018 / 4:53 PM / a month ago

Kraft Heinz considering sale of Complan brand in India: Bloomberg

(Reuters) - Kraft Heinz Co KHC.N is considering a sale of children’s energy drink brand Complan in India, which could fetch about $1 billion, Bloomberg reported on Monday, citing people familiar with the matter.

Kraft Heinz is working with an adviser to gauge interest in the brand from potential buyers, including Indian companies and private equity firms, the report said, adding talks are at an early stage and the company may decide to keep the brand.

Kraft Heinz declined to comment on the report.

Reuters had reported in March that at least three companies including Kraft Heinz are expected to bid for GlaxoSmithKline’s (GSK.L) Horlicks health nutrition business, which competes with Complan in India.

Horlicks and Complan are two popular malt-based drink brands in India.

Reporting by Uday Sampath in Bengaluru

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