Nagpur: Adani Wilmar has recently announced the acquisition of the well-known Basmati rice brand ‘Kohinoor’ from McCormick Switzerland GMBH as part of its strategy to strengthen its leadership in the basmati rice and FMCG industries.
On Tuesday, Adani announced the acquisition via its regulatory exchange, stating that the acquisition will grant the Adani group exclusive rights in India to the brand ‘Kohinoor’ Basmati rice, as well as the ‘Ready to Cook’, ‘Ready to Eat’ curries and meals portfolio under the Kohinoor Brand umbrella.
The Kohinoor acquisition will allow the company to cross-leverage its distribution and manufacturing capabilities, as well as gain market share and premiumize its portfolio, which AWL desperately needs to improve its margins.
Angshu Mallick, CEO & MD at AWL stated “The 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.”
Further he added, “Our strategy is very clear: we want to expand our food business. Second, whether the deal can help us expand nationally or even internationally. Third, will we get perpetual business from it? And fourth, whether we can expand that portfolio to meet our objective of making it big in processed foods.”
