Adani Wilmar acquires Kohinoor rice: Adani has strengthened its presence in the food segment with the acquisition of Kohinoor rice.
“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.
Adani is looking to cement its presence in the staples segment which contributes around 11 percent 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 Kohinoor brand portfolio comprises; “Kohinoor” – for premium Basmati rice; “Charminar” – for affordable rice and “Trophy” for the 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 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.
Adani Wilmar expects the acquisition to help in further consolidating its market share and leveraging the brand for product extension and diversification.
Adani Wilmar’s flagship Fortune already has a strong presence in packaged foods including packaged wheat flour, rice, pulses, besan, sugar, soya chunks, and cereals-based products such as ready-to-cook khichdi.