Adani Wilmar Limited (AWL) on Tuesday announced the acquisition of several brands, including the renowned Basmati rice brand – Kohinoor for the India region from McCormick Switzerland GMBH for an undisclosed amount.
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 Kohinoor brand portfolio comprises Kohinoor – for premium Basmati rice; Charminar – for affordable rice and Trophy for hotels, restaurants, catering (HORECA) segment.
“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,” Adani Wilmar said in a stock exchange filing.
“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,” it added.
The acquisition will fuel the next level of growth for AWL and widen the portfolio to cater to premium customer segments across rice and other value-added food businesses. The company is poised to become a formidable player with the addition of the Kohinoor brand in the India region, the company said.
“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,” Angshu Mallick, MD & CEO of Adani Wilmar was quoted as saying in the filing.
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