Kraft Heinz mulls selling children's energy drink brand Complan in India

Kraft Heinz Co. is considering a sale of children’s energy drink brand Complan in India, which could fetch about $1 billion, according to people familiar with the matter.

Kraft Heinz is working with an adviser to gauge interest in the business, which could attract local companies and private equity firms, said the people, who asked to not be identified because the matter isn’t public. Deliberations are at an early stage and Kraft Heinz could decide to keep the business, they said.

A representative for Pittsburgh-based Kraft Heinz declined to comment.

Kraft Heinz is bringing Complan to market as UK pharmaceutical firm GlaxoSmithKline Plc weighs selling its stake in its Indian consumer health subsidiary, which owns malted milk drinks brand Horlicks.

Kraft Heinz bought Complan from Glaxo in 1994.

Controlled by Warren Buffett’s Berkshire Hathaway Inc. and private equity firm 3G Capital, Kraft Heinz reported a better-than-expected profit in May. Management said it’s still eyeing acquisitions after Unilever NV spurned its takeover bid last year.