ITC open to buy Horlicks at ‘right price’

 “We would explore buying the Horlicks brand if it is up for sale and at a right price,” managing director of ITC Sanjiv Puri said. According to reports, ITC is in the list of suitors for the popular malt-based health drink brand Horlicks. 

Nestle, Dabur, Mondalez, Kraft Heinz and Hindustan Unilever were the others also believed to be in the fray. GSK had gone for a strategic review of the Horlicks brand to fund the Novartis deal pegged at $ 13 billion. Incidentally, ITC went past Hindustan Unilever to become the country’s fourth most valued firm in terms of market valuation helped by a smart surge in its share price.