Adani Wilmar would gain exclusive rights to the basmati rice brand as a result of the acquisition. Adani Wilmar acquired basmati rice brand Kohinoor from McCormick Switzerland.
According to a press release issued on Tuesday, packaged food company Adani Wilmar Ltd has acquired the India portfolio of the basmati rice brand Kohinoor from McCormick Switzerland GMBH for an undisclosed sum.
Through this acquisition, Kohinoor Basmati Rice, as well as its ready-to-cook and ready-to-eat curries and meals portfolio, will become the exclusive property of the company in India under the Kohinoor Brand umbrella.
Adding a premium brand to Adani Wilmar’s existing product basket, as well as the potential to scale value-added products, will help the company strengthen its position in the packaged food category, according to the company.
‘Adani Wilmar is pleased to welcome the Kohinoor brand to the Fortune family,’ said Angshu Mallick, CEO and Managing Director of Adani Wilmar. Known for representing the authentic flavors of India, Kohinoor is a trusted brand that is well-liked by its customers. We believe that this acquisition is in line with our business strategy of expanding our portfolio in the higher-margin branded staples and food products segment of the market. We believe that the packaged food category is under-penetrated and that there is significant room for expansion. We expect the Kohinoor Brand to help us accelerate our growth in the Food FMCG category, as it has a strong brand recall.’
It also stated that the acquisition will aid in the company’s efforts to leverage the reach of the Kohinoor brand to drive synergies across geographies, as well as complement the reach of the company’s flagship brand, Fortune.
Among the Kohinoor brands are Kohinoor (premium basmati rice), Charminar (affordable rice), and Trophy (expensive basmati rice) (HORECA segment).