Germany-based baby food maker Humana Milchunion is in talks to enter India, the company has confirmed to just-food.
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Humana said it is in contact with an Indian company over a deal to take its products into the fast-growing market.
However, Humana declined to comment on Indian reports that it plans to open 200 baby food stores in India under a joint venture with two local companies.
According to the Business Standard newspaper, Humana is close to sealing a joint venture with Mumbai-based drug manufacturer Khandelwal Laboratories (K-Labs) and consumer product exporter Magna Industries.
It is believed Humana will invest over EUR2m initially in Magna-K-Labs and pick up a 50% stake, the newspaper said.
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By GlobalDataMagna and K-Labs have signed a memorandum of understanding with Humana and plans to make India a hub for its foray into Asian and the West Asian markets, it was reported.
“Many of their mutivitamin products based on effervescent technology (when the tablet is put into water, it turns as an energy drink) are classified as drugs in India,” K-Labs chairman and managing director Sanjeev Khandelwal told the newspaper. “If the government brings in rules to market such products as over-the-counter products, our stores could offer many revolutionary vitamin products to Indian customers.”
K-Labs refused to comment when contacted by just-food today (8 April).
