Adani Wilmar has signed an agreement to acquire a majority stake in GD Foods Manufacturing, enhancing its portfolio of value-added food products.

Information on the Target

Adani Wilmar (AWL) is a prominent Indian FMCG company, recognized for its flagship household brand 'Fortune'. In a strategic move to enhance its product portfolio, AWL has entered into a definitive agreement to acquire GD Foods Manufacturing (GD Foods), the parent company of the well-known brand 'Tops'. Established in 1984, GD Foods has cultivated a strong presence in the North Indian market by offering a diverse range of products, including tomato ketchup, snack sauces, specialty sauces, jams, and various cooking essentials. With a commitment to innovation, GD Foods has maintained a strong reputation for understanding and catering to the culinary needs of Indian households.

In FY'24, GD Foods reported an impressive revenue of Rs 386 crore, reflecting a three-year compound annual growth rate (CAGR) of 15%. The company also achieved an EBITDA of Rs 32 crore, showcasing its robust financial performance and market position. The acquisition of GD Foods marks a significant step for AWL, allowing it to expand its range of value-added food products and strengthen its foothold in the Indian FMCG sector.

Industry Overview in the Target’s Specific Country

The Indian FMCG sector plays a vital role in the country's economy, characterized by rapid growth and diversification. With increasing urbanization, rising disposable incomes, and evolving consumer preferences, the dem