Adani Wilmar buys 'Kohinoor' brand to strengthen rice and food biz

4 May 2022 , 11:43 AM

Adani Wilmar Limited (AWL), one of the largest and fastest growing packaged food FMCG companies in India offering a wide array of consumer products, has announced the acquisition of several brands including the renowned Kohinoor Brand — domestic (India region) from McCormick Switzerland GMBH for an undisclosed amount.

On Wednesday at around 11:46 AM, Adani Wilmar was trading at Rs716 per piece lower by 5% on the BSE.

In essence, the acquisition would give AWL exclusive rights over the brand ‘Kohinoor’ basmati rice along with ‘Ready to Cook’, ‘Ready to Eat’ curries and meals portfolio under the Kohinoor Brand umbrella in India.

The addition of Kohinoor’s domestic Brand Portfolio strengthens Adani Wilmar’s leadership position in the food FMCG category by augmenting a strong product basket with premium brand along with potential to scale value added products. It also leverages the reach of Kohinoor brand to drive synergies for AWL across geographies and complements the reach of its flagship brand ‘Fortune’ in the food FMCG domain.

The acquisition will fuel the next level of growth to AWL and widen the portfolio to cater to premium customer segments across rice and other value-added food businesses. AWL is poised to become a formidable player with the addition of the Kohinoor brand in the India region. The Kohinoor brand portfolio comprises of; “Kohinoor” – for premium Basmati rice; “Charminar” – for affordable rice and “Trophy” for HORECA segment.

Commenting on the acquisition, Angshu Mallick, Chief Executive Officer and Managing Director of Adani Wilmar, said: “Adani Wilmar is pleased to welcome Kohinoor brand to the Fortune family. Kohinoor is a trusted brand which represents the authentic flavours of India and is loved by consumers.

This acquisition is in sync with our business strategy to expand our portfolio in the higher margin branded staples and food products segment. We believe the packaged food category is under-penetrated with significant headroom for growth. The Kohinoor Brand has a strong brand recall and will help accelerate our leadership position in the Food FMCG category.”