Kraft Heinz India’s popular energy drink brand, Complan is reportedly up for sale. The company is inviting bids to select the new owner of Complan. Wipro Consumer Care & Lighting Ltd., Cadila Healthcare Ltd., and ITC Ltd. are ready to submit their binding bids to acquire the company, sources familiar with the matter claimed. According to reports, the bids by Wipro, ITC, and Cadila would be submitted by 15th of September. Industry experts claim that the bid would settle somewhere between $700 to $800 million. If sources are to be believed, GSK’s Horlicks is the biggest rival of Complan, and the news of Kraft Heinz selling Complan came soon after the sale of the Horlicks brand was declared publicly by GlaxoSmithKline. Complan reportedly owns 8% share of India’s nutritional drink industry valued at Rs 5500 crore. According to the Times of India, Horlicks is the biggest malted drink of India and ITC is keenly interested to acquire it at the right price. Experts claim that nutritional drinks have been able to register high growth compared to malted drinks. The malt drinks like Bournvita and Horlicks have witnessed a slower growth rate in India, from 13.2% in the year 2014 to 8.6% in the year 2017. Incidentally, nutritional drink consumption also slipped from 21.3% in 2014 to 11.5% in 2017, but still dominated over malt-based drinks, cite trusted sources. According to Sanjeev Krishan, Leader, Deals & Private Equity of PwC India this acquisition involves investments in categories that are not related to each other, and hence some purchasers, prominently strategists, would assume a different value proposition in each of it â€“ with some valuing more than others. For the record, Kraft Heinz in currently the fifth-largest food and beverage firm across the globe, with an impressive brand portfolio of Classico, Kool-Aid, Lunchables, Jell-O, Maxwell, and Capri Sun.