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Report: Kraft Heinz exploring sale of energy drink brand Complan in India

Kraft Heinz Co. is considering a sale of its children's energy drink brand Complan in India, Bloomberg News reported June 18, citing anonymous sources.

A deal could reportedly fetch about $1 billion.

The food company has hired an adviser to gauge interest in the business, which might attract interest from local Indian companies and private equity players, the news organization reported.

All plans are at an early stage, and the company might decide to not sell the business, the report added.

A representative for Kraft Heinz declined to comment to S&P Global Market Intelligence.

Reuters reported in March that food giants Nestlé SA, Kraft Heinz and Unilever NV were planning to bid for GlaxoSmithKline PLC's Horlicks health nutrition business in India.