The country’s fast-moving largest consumer goods maker by revenue – Adani Wilmar Ltd (AWL) – has acquired packaged foods brand Kohinoor from American giant McCormick at an unknown amount. Apart from the premium basmati rice brand, the deal includes its umbrella brands such as Charminar and Trophy the value of these brands is about Rs 115 crore.
AWL, which is already the largest edible oil importer, refiner and marketer in India, will strengthen its position in the branded rice market at the third spot with the expansion of Kohinoor brands. The three brands Charminar, Kohinoor and Trophy already has a sale of Rs 300 crore a year.
FMCG companies are struggling with clasped margins but Adani Wilmar is in a sweet spot among its competitors because of its hold on the edible oil supply chain. The company, with its main focus on edible oil, is the largest edible oil manufacturer in India.
‘Fortune’ oil contributes close to 80% of Adani Wilmar’s revenues. Edible oil contributed nearly 84% towards its top-line for the year at Rs 45,401 crore, sales of the edible oils segment jumped 47.3% YoY from Rs 30,818 crore in FY2020-21.