ITC To Buy Health Drink Horlicks

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New Delhi: ITC Ltd has showned interest to buy GSK’s health drink brand Horlicks. ITC is not interested in the Complan brand of health drinks and bid is expected to be opened at next month.

GSK has put the brand under “strategic review”, and a final decision is expected to be taken by this year-end. Kraft Heinz-owned Complan, a major malt-based brand, is reportedly up for sale in India.

Sanjiv Puri, managing director of ITC, said “If it (Horlicks) is the right price, why not? But I don’t think the bid has been opened for that.”

Puri, however, clarified that the company is keen to enter the protein-supplement market, which, he said, is gaining traction. Incidentally, Horlicks has a protein-based offering apart from malted drinks. Both malt- and protein-based drinks are broadly categorised into the health food drinks segment.

Recently, ITC launched packet milk in Bihar, marking its foray into the dairy business, and adding health drink brands would only increase this portfolio.

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