Adani Wilmar strengthens its position in Basmati segment, buys Kohinoor brand portfolio
The Kohinoor brand portfolio comprises 'Kohinoor' for premium basmati rice; 'Charminar' for affordable rice; and 'Trophy' for the Horeca (hotel, restaurant and cafe) segment.
Adani Wilmar Ltd. (AWL) on Tuesday announced the acquisition of several brands, including the renowned Kohinoor, from McCormick Switzerland GmbH. However, the deal size was not disclosed. The company said in a statement that the acquisition would give Adani Wilmar exclusive rights over the brand 'Kohinoor' basmati rice along with ready-to-cook, and ready-to-eat curries and meals portfolio under the Kohinoor brand umbrella in India. Adani Wilmar is a 50:50 joint venture between the India-based Adani Group and Singapore-based Wilmar.
The company said in a statement that buying Kohinoor's domestic brand portfolio had strengthened Adani Wilmar's leadership position in the food FMCG category. It now has several premium brands. Besides, it has the potential to scale value-added products. The Kohinoor brand portfolio comprises 'Kohinoor' for premium basmati rice; 'Charminar' for affordable rice; and 'Trophy' for the Horeca (hotel, restaurant and cafe) segment.
Adani Wilmar's Chief Executive Officer and Managing Director Angshu Mallick said, “We are pleased to welcome the Kohinoor brand to the Fortune family. This acquisition is in sync with our business strategy to expand our portfolio in the higher-margin branded staples and food products segment.” He added, “We believe the packaged food category is under-penetrated with significant headroom for growth.”