Adani Wilmar Acquires Kohinoor To Strengthen Leadership In Basmati Rice Business
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In a bid to strengthen its leadership in basmati rise and FMCG business, Adani Wilmar has announced to acquired renowned Basmati rice brand ‘Kohinoor from McCormick Switzerland GMBH. Adani Wilmar announced about 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.
Commenting on the Adani Wilmar acquisition of Kohinoor, Angshu Mallick, Chief Executive Officer and Managing Director at Adani Wilmar Limited 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.”
Adani Wilmar’s acquisition of Kohinoor’s domestic Brand Portfolio would strengthen 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.
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