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On Tuesday, Adani Wilmar (AWL)announced the acquisition of multiple brands including the premium rice brand "Kohinoor" owned by McCormick Switzerland GMBH.
Although the size of the deal was not disclosed, the acquisition of the Kohinoor portfolio will greatly strengthen AWL's position in the FMCG category and give it a strong product basket containing premium brands that are trustworthy and scalable.
Earlier, AWL housed several brands under its management like Fortune, Bullet, Aadhar, Raag, Fryola, and Alpha. The addition of Kohinoor's portfolio brings in 'Kohinoor' for premium basmati rice, 'Charminar' for affordable rice, 'Trophy' for the HORECA (Hotel, Restaurant & Cafe) segment & several 'Ready to Cook' and 'Ready to Eat' meals.
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"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." AWL Chief Executive Officer and Managing Director Angshu Mallick said.
AWL recently posted its Q4 results wherein it reported a 25.6% decline in net profits to Rs 234.3 crores and a 40.2% growth in revenues to Rs 14,960.2 crores. The company's annual revenues surpassed that of HUL and made it India's largest FMCG brand.
The stock of AWL has fallen continuously for the past 4 trading days. It touched its lifetime high of Rs 878 per share on 28th April but fell 5% on the same day. It hit the 5% lower circuit today as well at Rs 715.95 per share. The stock has fallen 16.75% in the last 4 days.
Article by Aman Agarwal.
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