India, March 17 -- Acquisition to broaden AWL's food portfolio for Indian kitchen needs while adding high-margin products

Adani Wilmar Limited (AWL), one of India's largest Food FMCG companies, renowned for its household brand 'Fortune', announced the signing of a definitive agreement to acquire G.D. Foods Manufacturing (India) Private Limited (GD Foods). The acquisition will be executed in multiple tranches, with 80 per cent of the shares to be acquired in the first tranche and the remaining 20 per cent to be acquired over the next three years. In FY'24, GD Foods achieved a revenue of Rs 386 crores, growing at a 3-year CAGR of 15 per cent, and recorded an EBITDA of INR 32 crores.

Aligned with the vision to cater to the kitchen needs of...