Adani gained a strong presence in the food market after acquiring the Kohinoor rice.
The acquisition would give us exclusive rights over the 'Kohinoor' brand basmati rice which comes with 'ready to cook', 'ready to eat' curries, that fall under the umbrella of the 'Kohinoor' brand in India, the company said in a press release.
Adani looks out for building its presence in the staples segment which will contribute to 11 per cent of its topline.
The Kohinoor brand portfolio will consist of;
'Kohinoor' - for premium Basmati rice;
'Charminar' - for affordable rice and
'Trophy' - for HORECA segment.
"This acquisition is in sync with our business strategy to expand our portfolio in the higher margin branded staples and food products segment. 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," CEO and Managing Director of Adani Wilmar said.
Adani Wilmar is expecting this brand to rise and help in consolidating its market share and further leverage the brand for product extension and diversification.
It should also be noted that Adani Wilmar's flagship fortune already has a huge presence in packaged food such as wheat flour, rice, pulses, besan, sugar, soya chunks, and cereal-based products like ready-to-cook Khichdi.