The plan which was confirmed by people close to the company will see the US multi-national take first steps in to the unknown territory of health-nutrition sector.
Coca-Cola is set to join other global food giants in the $4-billion-plus pursuit to acquire the consumer nutrition business of GlaxoSmithKline including Horlicks, reported The Economic Times.
The proposed deal marks an entirely new foray for the Atlanta headquartered firm and could give it bandwidth to play in the pure health-nutrition space aimed primarily at children, the report said citing people close to the development.
According to the report, Coca-Cola has asked Citi to help them in the bidding process expected to launch next week and will see it pitted against the likes of Nestle, Danone and Hindustan Unilever, among others.
"The evaluation work had begun even though the sale process is yet to formally launch. It will be a large transaction, so work has already begun…This also marks the company’s return to big bang M&A in a market like India,” an official was quoted as saying in the report.