Royal Numico N.V. announces the successful completion of the Dumex integration with the divestiture of its baby food activities in India to Wockhardt Ltd. for an undisclosed amount. After an in-depth analysis of the competitive landscape, Dumex’ market position in India and the investments needed to build a longstanding profitable business in India, Numico has decided to sell its baby food activities in India which were acquired as part of the Dumex acquisition at the start of 2006. With the sale of the Indian baby food activities, Numico has now successfully completed the integration of the Dumex operations.
Numico’s baby food franchise in India was loss-making in the first quarter of 2006 – accounted for under “Net loss from discontinued operations” – and employed approx. 230 people. The transaction will not have a material financial impact on Numico’s results.
Wockhardt Ltd. is a listed pharmaceutical and biotechnology company based in Mumbai (India) with annual sales of over US$ 300 mln.
Royal Numico is a high-growth, high-margin specialised nutrition company with leading positions in Baby Food and Clinical Nutrition and brings products to the market under the brand names Nutricia, Milupa, Cow & Gate and Dumex, among others. The company serves customers in over 100 countries and employs approx. 13,500 people.