In order to leverage the country’s growing packaged consumer goods segment, Adani Wilmar is planning to acquire three food companies. According to media reports, the company has even set aside a USD one billion acquisition fund. The company is gearing up to acquire at least three brands which specialise in ready-to-cook foods, packaged edibles and spices.
The company’s ambitious capital expenditure plan comes on the back of an increased interest from global as well as local investors. Focusing on the country’s southern and eastern parts, the group seeks to enhance its grip on the fast-moving consumer goods (FMCG) segment through acquisitions in the current and the next financial years, as stated by the media reports.
The reports even suggest that the group is keen to pursue various acquisitions in the coming years as the long-term objective that the group is working towards is having around 25 to 30 per cent of its revenue from the sectors that are consumer-facing. These involve food, commodities, airport services and FMCG.
As far as the earnings of the group is concerned, Adani Wilmar reported revenue of Rs 14,169 crore in the first quarter of the current financial year. The consolidated net profit of Rs 313.2 crore, against a net loss of Rs 78.92 crore a year earlier. The group witnessed a growth in revenue in its food and FMCG segment as the revenue from these grew by 40 per cent.
Adani Group has worked towards expanding its food distribution network in the past year and has managed to expand it by 18 per cent, with a total of 7,40,000 direct outlets across the country. The company acquired packaged rice brand Kohinoor in 2022. The joint venture between Adani and Wilmar offers edible oils, wheat flour, rice, pulses and other essentials within its range of food and FMCG products.
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