What is the idea of Adani Wilmar buying Kohinoor brand of foods?

Adani Wilmar, which was the most recent listing of the Adani group, also crossed the coveted Rs.1 trillion market cap mark very recently. Now, to expand its business and product portfolio, Adani Wilmar has announced the acquisition of several brands, including the highly popular “Kohinoor” Basmati brand. Adani Wilmar will be buying out this brand from McCormick Switzerland GMBH. It will help Adani Wilmar strengthen its food portfolio.

The deal size has not been disclosed by Adani WIlmar. The Kohinoor acquisition will provide Adani Wilmar with full rights over Kohinoor basmati rice as well as the “Ready-to-Cook & Ready-to-Eat” curries and meals portfolio of Kohinoor. This will add to the Adani portfolio of value added products. Branded staples and food products segment has been higher on margins and on profits. This year, Adani crossed Hindustan Unilever in total sales.