Adani is looking to cement its presence in the staples segment which contributes around 11 per cent to its topline
PRAVASISAMWAD.COM
Adani Wilmar Limited (AWL), recently announced the acquisition of several brands including the Kohinoor Brand – domestic (India region) from McCormick Switzerland GMBH for an undisclosed amount.
The Kohinoor brand portfolio comprises of; “Kohinoor” – for premium Basmati rice; “Charminar” – for affordable rice and “Trophy” for HORECA segment. “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 company said.
“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 company said in a release.
“The Kohinoor Brand has a strong brand recall and will help accelerate our leadership position in the Food FMCG category.”
— Angshu Mallick, Chief Executive Officer and Managing Director of Adani Wilmar
Adani is looking to cement its presence in the staples segment which contributes around 11 per cent to its topline. 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 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 a 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,” AWL said in a statement.
The Kohinoor Brand has a strong brand recall and will help accelerate our leadership position in the Food FMCG category,” Angshu Mallick, Chief Executive Officer and Managing Director of Adani Wilmar, said.
**************************************************************
Readers
These are extraordinary times. All of us have to rely on high-impact, trustworthy journalism. And this is especially true of the Indian Diaspora. Members of the Indian community overseas cannot be fed with inaccurate news.
Pravasi Samwad is a venture that has no shareholders. It is the result of an impassioned initiative of a handful of Indian journalists spread around the world. We have taken the small step forward with the pledge to provide news with accuracy, free from political and commercial influence. Our aim is to keep you, our readers, informed about developments at ‘home’ and across the world that affect you.
Please help us to keep our journalism independent and free.
In these difficult times, to run a news website requires finances. While every contribution, big or small, will makes a difference, we request our readers to put us in touch with advertisers worldwide. It will be a great help.
For more information: pravasisamwad00@gmail.com