Adani Wilmar Limited, one of India's largest FMCG companies, has announced a significant acquisition. Adani Wilmar has signed a definitive agreement to acquire GD Foods Manufacturing (India) Private Limited, the operator of the 'Tops' brand.
Business News: Adani Wilmar Limited (Adani Wilmar), one of India's largest FMCG companies, has announced a significant acquisition. Adani Wilmar has signed a definitive agreement to acquire GD Foods Manufacturing (India) Private Limited, the operator of the 'Tops' brand. This acquisition is part of the company's strategic expansion, further strengthening its presence in the Indian food market.
Growth and Market Share
The acquisition will be completed in phases, with 80% of the shares acquired in the first tranche and the remaining 20% to be acquired within the next three years. Established in 1984, GD Foods' 'Tops' brand is a popular name among consumers in North India. The company's retail presence spans seven states in North India, with its products sold in over 150,000 stores.
In the fiscal year 2023-24, GD Foods reported revenue of ₹386 crore, with an EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of ₹32 crore.
Adani Wilmar's Market Performance
Angshu Mallick, Managing Director and Chief Executive Officer (CEO) of Adani Wilmar Limited, stated, "This acquisition is a significant step for us in terms of growth and expansion. It will help us meet the growing demands of Indian households." On Wednesday, Adani Wilmar's shares closed at ₹239.80 on the Bombay Stock Exchange (BSE), down 1.13%. The 52-week high for this share was ₹404, and the low was ₹231.55. Currently, the company's market cap stands at ₹31,166.29 crore.
This acquisition will diversify Adani Wilmar's product portfolio and strengthen its position in the food processing sector. Given the rising consumer demand in India, this deal could propel Adani Wilmar to new heights in the FMCG market.
