Kohinoor rice brand now included into ‘Fortune’ family
Adani group company, Adani Wilmar has announced it would acquire popular rice brand Kohinoor from McCormick Switzerland GMBH.
The Kohinoor brand portfolio comprises; “Kohinoor” – for premium Basmati rice; “Charminar” – for affordable rice and “Trophy” for the HORECA segment.
The acquisition will fuel the next level of growth to Adani Wilmar Limited (AWL) and widen the portfolio to cater to premium customer segments across rice and other value-added food businesses. AWL is poised to become a formidable player with the addition of the Kohinoor brand in the India region.
The takeover will give Adani Wilmar an exclusive right over the brand Kohinoor Basmati rice along with a ‘Ready to Cook‘, ‘Ready to Eat’ curries and meals portfolio under the Kohinoor Brand umbrella in India, it said in a regulatory filing on Tuesday.
“Adani Wilmar is pleased to welcome the Kohinoor brand to the Fortune family. Kohinoor is a trusted brand that represents the authentic flavors of India and is loved by consumers. This acquisition is in sync with our business strategy to expand our portfolio in the higher-margin branded staples and food products segment,” said Angshu Mallick, Chief Executive Officer and Managing Director of the company.
The Adani group company’s leadership position in the food FMCG category is expected to augment a strong product basket with the potential to scale value-added products, besides leveraging the reach of Kohinoor and Fortune brands to drive synergies for the company across geographies.
Mallick believes that 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, ” Mallick added.
[With Inputs from IANS]
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