Zydus Wellness (ZWL) announced that the Competition Commission of India (CCI) has granted approval for ZWL's acquisition of Heinz India Private (Heinz India) jointly with Cadila Healthcare Limited. The definitive agreement in relation to this acquisition was signed on 24th October 2018.

ZWL will primarily be acquiring the business related to the four brands-Glucon-D, Nycil, Sampriti and Complan, through this transaction. Of these, Complan, Glucon-D & Nycil have a legacy of over 50 years and Glucon-D & Nycil are leading brands in their respective markets.

The CCI approval takes ZWL one step closer to completing the acquisition, which is expected to unlock significant value for ZWL by enriching its portfolio and expanding the reach of its distribution network.

Shares of the company gained Rs 35.45, or 2.79%, to trade at Rs 1,306.95. The total volume of shares traded was 2,644 at the BSE (3.41 p.m., Tuesday).