According to the company statement of Adani Wilmar, the acquisition would give 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.
Adani Group is an Indian multinational conglomerate company, headquartered in Ahmedabad, India. It was founded by Gautam Adani in 1988 as a commodity trading business, with the flagship company Adani Enterprises Limited.
Wilmar International Limited is a Singaporean food processing and investment holding company with more than 300 subsidiary companies. Founded in 1991, it is one of Asia’s leading agribusiness groups alongside the COFCO Group.
Incorporated in 1999, Adani Wilmar is an edible oil aliment processing company and is a joint venture between Adani Group and Wilmar International . In November 2000, Adani Wilmar launched its flagship brand “Fortune” under which it engenders and sells edible oil, rice, wheat flour, gram flour, pulses, sugar, and soya nugget. Adani Wilmar, a 50:50 joint venture between business conglomerate Adani Group and Singapore-based Wilmar, recently got listed on the stock exchange after raising Rs 3,600 crore through an Initial Public Offer (IPO).
Adani Wilmar acquires Kohinoor
To make a strong leadership in Basmati rice and FMCG business, the joint venture between Adani Group and Wilmar International Ltd. has announced the acquisition of the most popular basmati rice brand Kohinoor from McCormick Switzerland GMBH. The company announced the acquisition through its regulatory exchange on Tuesday citing the takeover will give Adani Wilmar Limited 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 has ‘Kohinoor’ – for premium basmati rice, ‘Charminar’ – for affordable rice, and ‘Trophy’ for HORECA (Hotel, Restaurant and Cafe) segment. According to AWL Chief Executive Officer and Managing Director Angshu Mallick statement “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,”