Adani Wilmar Ltd (AWL), the country’s largest fast moving consumer products company by revenue, has bought packaged foods brand Kohinoor from American conglomerate McCormick for an unknown fee. Apart from the premium basmati rice brand, the sale also includes its umbrella brands Charminar and Trophy, which are worth around Rs 115 crore in total.
With the addition of Kohinoor brands, AWL, India’s largest edible oil importer, refiner, and marketer, will solidify its third-place position in the branded rice market. According to reports, the three brands already generate a revenue of Rs 300 crore every year.
Angshu Mallick, MD & CEO of Adani Wilmar said,”This acquisition aligns with our business strategy of expanding our portfolio in the higher margin branded staples and food products segment.We believe the packaged food category is underserved and has significant room for expansion. The Kohinoor Brand has a high brand recall, which will help us maintain our leadership position in the Food FMCG category.”