PITTSBURGH & CHICAGO--(BUSINESS WIRE)--Jan. 30, 2019--
The Kraft Heinz Company (NASDAQ: KHC) (“Kraft Heinz”) today announced it
has 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.
ABOUT THE KRAFT HEINZ COMPANY
The Kraft Heinz Company (NASDAQ: KHC) is one of the largest food and
beverage companies in the world. A globally trusted producer of
delicious foods, The Kraft Heinz Company provides high quality, great
taste and nutrition for all eating occasions, whether at home, in
restaurants or on the go. The Company’s iconic brands include Kraft,
Heinz, ABC, Capri Sun, Classico, Jell-O,
Kool-Aid, Lunchables, MaxwellHouse, Ore-Ida,
OscarMayer, Philadelphia, Planters, Plasmon,
Quero,Smart Ones and Velveeta. The Kraft Heinz
Company is dedicated to the sustainable health of our people, our planet
and our Company. For more information, visit www.kraftheinzcompany.com.
ABOUT ZYDUS WELLNESS LIMITED
Zydus Wellness Ltd. (ZWL) is the listed entity of the Zydus group and is
one of the leading companies in the fast growing Indian consumer health
market. The company has grown over the years on the back of pioneering
brands like Sugar Free, EverYuth and Nutralite and innovations offering
new benefits to consumers. Sugar Free, the flagship brand of Zydus
Wellness, launched in 1988, is a sugar substitute that leads the market
with dominant market share. ‘Sugar Free’, the largest selling sweetener
brand in the country with over 93% market share, has now become more of
a lifestyle brand rather than just a sugar substitute for diabetics. The
skincare range of products sold under the umbrella brand ‘EverYuth’ has
been able to retain its leadership position despite increasing
competition and an influx of international brands. ‘Nutralite’, India’s
largest selling table spread has gained widespread consumer acceptance
as a healthier substitute to butter.
Forward-Looking Statements
This press release contains a number of forward-looking statements.
Words such as “expect,” “invest,” “grow,” “drive,” “continue,”
“partner,” “leverage,” “reach,” “complement,” “focus,” “will,” and
variations of such words and similar future or conditional expressions
are intended to identify forward-looking statements. Examples of
forward-looking statements include, but are not limited to, statements
regarding Kraft Heinz’s plans, expected benefits of the transaction,
investment and growth plans, and impact of the sale. These
forward-looking statements are not guarantees of future performance and
are subject to a number of risks and uncertainties, many of which are
difficult to predict and beyond Kraft Heinz’s control.
Important factors that may affect Kraft Heinz’s business and operations
and that may cause actual results to differ materially from those in the
forward-looking statements include, but are not limited to, operating in
a highly competitive industry; changes in the retail landscape or the
loss of key retail customers; Kraft Heinz’s ability to maintain, extend
and expand its reputation and brand image; the impacts of Kraft Heinz’s
international operations; Kraft Heinz’s ability to leverage its brand
value to compete against retailer brands and other economy brands; Kraft
Heinz’s ability to predict, identify and interpret changes in consumer
preferences and demand; Kraft Heinz’s ability to drive revenue growth in
its key product categories, increase its market share or add products;
an impairment of the carrying value of goodwill or other
indefinite-lived intangible assets; volatility in commodity, energy and
other input costs; changes in the Kraft Heinz’s management team or other
key personnel; Kraft Heinz’s ability to realize the anticipated benefits
from its cost savings initiatives; changes in relationships with
significant customers and suppliers; the execution of Kraft Heinz’s
international expansion strategy; tax law changes or interpretations;
legal claims or other regulatory enforcement actions; product recalls or
product liability claims; unanticipated business disruptions; Kraft
Heinz’s ability to complete or realize the benefits from potential and
completed acquisitions, alliances, divestitures or joint ventures;
economic and political conditions in the United States and in various
other nations in which we operate; volatility of capital markets and
other macroeconomic factors; increased pension, labor and people-related
expenses; volatility in the market value of all or a portion of the
derivatives we use; exchange rate fluctuations; risks associated with
information technology and systems, including service interruptions,
misappropriation of data or breaches of security; Kraft Heinz’s ability
to protect intellectual property rights; impacts of natural events in
the locations in which we or our customers, suppliers or regulators
operate; Kraft Heinz’s indebtedness and ability to pay such
indebtedness; Kraft Heinz’s ownership structure; the impact of future
sales of Kraft Heinz’s common stock in the public markets; Kraft Heinz’s
ability to continue to pay a regular dividend; restatements of Kraft
Heinz’s consolidated financial statements; and other factors. For
additional information on these and other factors that could affect
Kraft Heinz’s forward-looking statements, see Kraft Heinz’s risk
factors, as they may be amended from time to time, set forth in its
filings with the Securities and Exchange Commission. Kraft Heinz
disclaims and does not undertake any obligation to update or revise any
forward-looking statement in this press release, except as required by
applicable law or regulation.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190130005909/en/
Source: The Kraft Heinz Company
Michael Mullen
Senior Vice President of Corporate Affairs
Kraft
Heinz Company
Michael.Mullen@kraftheinz.com
Sujatha Rajesh
Vice President - Corporate Communications
Zydus
Cadila
Ssujatha.Rrajesh@zyduscadila.com