Adani Wilmar has announced its acquisition of renowned Basmati rice brand ‘Kohinoor’ from McCormick Switzerland GMBH to strengthen its leadership in the FMCG and basmati rice sectors.
Adani Wilmar announced the purchase through its regulatory exchange, citing the acquisition will give the firm exclusive rights over the ‘Kohinoor’ basmati rice brand with ‘Ready to Eat,’ ‘Ready to Cook’ and meals portfolio under the Kohinoor umbrella in India.
The addition of Kohinoor’s domestic portfolio reinforces Adani Wilmar’s leadership position in the food FMCG sector by enhancing a strong product basket with premium brands and the potential to scale value-added products.
The takeover will fuel the next level of growth for Adani Wilmar and widen the portfolio to cater to premium customer segments across basmati rice and other value-added food businesses.
The Kohinoor brand portfolio comprises ’Charminar’ for affordable; ‘Kohinoor’ for premium basmati rice; and ‘Trophy’ for the hotel, restaurant, and café (Horeca) sector.
Angshu Mallick, Adani Wilmar’s Managing Director and Chief Executive Officer of said that they believed the packaged food category was under-penetrated with significant headroom for growth. He added that the Kohinoor brand commands a strong brand recall and would help accelerate its leadership position in the food FMCG category.
Adani Wilmar, a 50:50 joint venture (JV) between the Adani group conglomerate and Singapore-based Wilmar. The firm recently got listed on the stock exchange after raising Rs 3,600 crore ($470 million) through an IPO (initial public offering).
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