Private equity firms Blackstone and Carlyle, and strategic buyers Abbott, Emami, Wipro Consumer Care, Zydus Wellness and ITC are among the suitors in the fray, the report said, citing people aware of the development.
Kraft Heinz had given the mandate to JPMorgan and Lazard for advising on the sale, according to the report.
The development comes after GlaxoSmithKline initiated a strategic review of milk drinks brand Horlicks, which competes with Complan, and its other consumer healthcare nutrition products businesses in order to support its $13 billion deal to buy Novartis’ 36.5% stake in their consumer healthcare joint venture.
The majority of Horlicks and other nutrition products sales are generated in India. The strategic review will include an assessment of GlaxoSmithKline’s 72.5% stake in Mumbai-listed GlaxoSmithKline Consumer Healthcare Ltd.
Source: Economic Times