Johnson & Johnson said on Friday that it is buying the popular energy drink brand ORSL from Bangalore-based Jagdale Industries. Reuters pegged the deal value at R750 crore, attributing the information to sources. The company declined to disclose financial aspects of the deal.
Under the terms of the agreement, Jagdale Industries will provide transition services in manufacturing and marketing of the product. The firms did not disclose when the deal will close.
“India is a very important market for Johnson & Johnson, and we are pleased to add the ORSL brand to our portfolio of consumer health care brands,” Thibaut Mongon, group chairman of Johnson & Johnson Consumer, Asia Pacific, said. “This deal will allow us to expand our consumer healthcare offerings.”