Zomato Chief Financial Officer Sameer Maheshwary resigns after 5 months

INDIA – Food delivery platform, Zomato’s Chief Financial Officer, Sameer Maheshwary has resigned less than six months after joining the company, reports ET Retail citing information from three people. The finance team would likely be led by Chief operating officer Gaurav Gupta until the company completes its search for a new CFO, said a spokesperson…

Cargill India appoints Simon George as new President

INDIA – The American agricultural major, Cargill has appointed Simon George, as the new President of its Indian business to succeed Siraj Chaudhry who stepped down as Chairman and Cargill’s country representative. Simon was Managing Director for starches and sweeteners division in the country and brings in 30 years’ experience from the industry that is,…

Unilever to acquire Horlicks and GSK’s nutrition business for US$3.8b

INDIA – The global consumer goods leader, Unilever has agreed to acquire malted drinks brand, Horlicks and other GlaxoSmithKline’s Indian consumer healthcare products in a transaction worth US$3.8 billion (3.3 billion Euros). The transaction will also see Hindustan Unilever (HUL), Unilever’s operating arm and India’s largest consumer goods company merge its operations with GlaxoSmithKline Consumer…

Kraft Heinz plans Indian ‘come-back’ through distribution partnership

INDIA – Kraft Heinz, which recently divested its Indian consumer brands business plans to take some of its global brands to India and this could be through a distributor partnership in the country. Speaking to ET Retail, Kraft Heinz India managing director, Sankalp Potbhare said the company is exploring options including identifying a distribution partner…

Unilever may top Nestle in US$3.4b cash bid for GSK nutrition business

INDIA – The British consumer goods giant, Unilever may walk away with the Glaxo SmithKline’s nutrition business with a US$3.4 billion all-cash offer for a 72.5% stake, according to a person with direct knowledge of the matter identified with Financial Times (FT). GSK has also confirmed that consideration is being given to a potential transaction…

KFC India sells 13 restaurant stores to franchise partner Devyani

INDIA – KFC India, fast food restaurant chain owned by American Yum! Brands, is re-strategizing and has sold an additional 13 restaurants to Devyani International, its largest franchise partner, which is promoted by Ravi Jaipuria’s RJ Corp, reports ET Retail. Devyani has acquired KFC restaurants in Kerala and Goa, as part of KFC’s strategy to…

Nestle nearing deal to acquire GSK’s consumer healthcare business in India

INDIA – The Swiss transnational food and drink company, Nestle SA is said to have tipped Unilever, another serious bidder in the race for GSK Consumer Healthcare business in India, ET Retail reports citing sources familiar with the matter. The deal which highlights popular malt food drink brand Horlicks, will see Nestle strike the biggest…

Hindustan Coca-Cola posts 4% decline in revenues as it focuses on investments

INDIA – Hindustan Coca-Cola Beverages (HCCB), the bottling partner of Coca-Cola India has said that revenues for the year ended March 2018 fell 4% to US$1.28 billion as it embarks on investments for strong, stable growth. During the period, operating revenue increased 7% while it gained 2.3% share in sparkling beverages compared to the previous…

Government of India makes jute packaging mandatory for all food grains

INDIA – The Indian government has approved a proposal making jute packaging mandatory for all food grains, a move that aims to enhance quality and productivity of both the grains and jute bags, reports Times of India. The Cabinet Committee on Economic Affairs (CCEA) approved that 100 % of the food grains and 20% of…

Nestle ahead of Unilever in final race to acquire GSK’s nutrition business in India

INDIA – Nestle SA, the Swiss transnational and the world’s largest food company is contending Unilever in the final round of negotiations to acquire GlaxoSmithKline’s consumer nutrition business in India. According to three people aware of the development, cited by ET Retail, Nestle is believed to be the frontrunner with a more aggressive offer after…