Cyril Amarchand Mangaldas and Gibson Dunn & Crutcher have represented Kraft Heinz Company on the $625 million sale of its India subsidiary to Zydus Wellness, which was advised by Khaitan & Co.
Zydus Wellness, an Indian pharmaceutical and consumer products company, and its parent Cadila Healthcare will jointly buy the assets to expand their portfolio that will now also include brands such as talcum powder Nycil and clarified butter, Sampriti Ghee, according to a Reuters report.
The report also added that the deal value includes net working capital of 400 million rupees and cash of 150 million rupees, but does not assume any debt. The deal will give Zydus a chance to leverage its position in the health-food and nutrition segment. The company, which owns sugar substitute Sugar Free, had bought premium healthy fat spread Nutralite in 2006.
The Cyril Amarchand Mangaldas team was represented by managing partner Cyril Shroff, corporate partners Nivedita Rao, Ruetveij Pandya and Anchal Dhir and competition law partners Avaantika Kakkar and Anshuman Sakle.
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