Adani Wilmar Limited announced the acquisition of several brands, including the renowned Basmati rice brand – Kohinoor for the India region from McCormick Switzerland GMBH for an undisclosed amount, an official statement highlighted.
The statement also mentioned that this 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.
This acquisition will fuel the next level of growth for AWL and widen the portfolio to cater to premium customer segments across rice and other food business.
Angshu Mallick, MD & CEO of Adani Wilmar commented on this and added, ““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.”