Nestle, Dr Reddy's Join Hands to Market Nutraceutical Brands in India via JV

26 Apr 2024 , 09:27 AM

Nestle India and Dr Reddy's announced on Thursday that they have signed a formal agreement to establish a joint venture (JV) to offer new nutraceutical brands to consumers in India and other agreed-upon territories.

The collaboration will combine Nestle Health Science's (NHSc) well-known global line of nutritional health products, as well as vitamins, minerals, herbals, and supplements, with Dr Reddy's commercial capabilities.

The JV partners will license selected brands to the JV entity.

The Nestle Group plans to license brands such as Nature's Bounty, Osteo Bi-Flex, Ester-C, Resource High Protein, Optifast, Resource Diabetic, Peptamen, Resource Renal, and Resource Dialysis. Dr. Reddy's would license brands like Rebalanz, Celevida, Antoxid, Kidrich-D3, and Becozinc in the nutrition and OTC categories. The JV venture, which will be headquartered in Hyderabad, is slated to begin operations in the second quarter of FY25.

Suresh Narayanan, chairman and managing director of Nestlé India, expressed that this collaboration will empower them to develop a strong retail and distribution infrastructure, facilitating greater accessibility of their brands to consumers and contributing significantly to enhancing quality of life.

M.V. Ramana, CEO of Branded Markets (India & Emerging Markets) at Dr Reddy's, highlighted that this innovative strategy of harnessing the mutually beneficial strengths of both parent companies will enhance consumer access and affordability.

NESTLÉ India manufactures products of truly international quality under internationally famous brand names such as NESCAFÉ, MAGGI, KIT KAT, MILKYBAR, MILKMAID, BAR-ONE, and NESTEA, and in recent years the company has also introduced products for daily consumption and use such as NESTLÉ Milk, NESTLÉ SLIM Milk, NESTLÉ Dahi, and so on.

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