RIYADH: To strengthen its presence in the food sector, Adani Wilmar, an arm of Indian conglomerate Adani Group, has announced that it will acquire Kohinoor, a popular rice brand from McCormick Switzerland, a subsidiary of US food group McCormick, according to an Economic Times report.
The acquisition will give Adani Wilmer exclusive rights over the brand Kohinoor Basmati rice along with ‘Ready to Cook’, ‘Ready to Eat’ curries and meals portfolio under the Kohinoor Brand.
“The Kohinoor Brand has a strong brand recall and will help accelerate our leadership position in the Food FMCG category,” said Angshu Mallick, CEO and managing director of Adani Wilmar.
With this acquisition, the firm aims to further consolidate its market share and leverage the brand for product extension and diversification.
Adani Group is valued at over $200 billion, and has revenues of over $20 billion.
It was founded in 1988 by Indian billionaire philanthropist and entrepreneur Gautam Adani.
