Adani Wilmar Buys Kohinoor Brand: Adani Wilmar has bought Kohinoor Basmati Rice Brand to make a mark in the food segment. After this acquisition, the Kohinoor rice brand along with the Ready To Cook Meals under the Kohinoor brand and the Ready To Eat Curry brand will be owned by Adani Wilmar. With this acquisition, Adani Wilmar will be able to establish its hold in the Food Staples business.
Adani Wilmar bought Kohinoor brand for an undisclosed amount
Adani Wilmar has decided to buy several brands including Kohinoor brand (Indian region) from McCormick Switzerland GMBH for an undisclosed amount. After this acquisition, Adani Wilmar will have exclusive rights on the Kohinoor brand. The acquisition of the Kohinoor brand will help Adani Wilmar increase its dominance in the food FMCG category. Kohinoor sells premium basmati rice under the Kohinoor brand portfolio, the affordable rice segment is sold under the brand name Charminar and the Horeca segment sells rice under the name Trophy. Let us tell you that Adani also sells flour, rice, pulses, gram flour, Chinese soya chunks and ready-to-cook khichdi under the brand name of Wilmar Fortune.
Company will expand with Kohinoor brand
Commenting on the acquisition, Angshu Mallick, CEO and MD, Adani Wilmar said, “This acquisition is in line with our business strategy to expand our portfolio in the high-margin branded staples and food products segment. We believe that there is ample scope for growth in the packaged food category. The Kohinoor brand has a strong brand recall and will help us accelerate our leadership position in the food FMCG segment.
Adani Wilmar’s stock gave great returns
Let us tell you that the IPO of Adani Wilmar was listed on the stock exchange in the month of February this year. This stock has given multibagger returns to its investors. This stock with an IPO price of Rs 230 has given a return of 250 percent in less than 3 months. At present, the share of Adani Wilmar is trading at Rs 753 per share.
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