Adani Wilmar, a joint venture between Adani Enterprises and Wilmar International, is looking to strengthen its commitment to the growth and expansion of the food staples business by pouring in more resources into acquisitions – buying more manufacturing facilities for food staples and expanding them further. The JV aims to spend around Rs500 crore of the planned Rs4,500-crore IPO for the same, in a bid to become one of the larger players in the industry. The India unit is said to have clocked a revenue of Rs37,115 crore in fiscal 2021.
A key factor that has inspired the company to further expand the business is the industry’s high growth rate where it is rivalled by ITC and Hindustan Unilever. “Our history suggests that we are good at acquisitions and this will remain our strategy to expand our staples’ play,” said Angshu Mallick, CEO, Adani Wilmar.
Established in 1999, Adani Wilmar markets essential kitchen commodities such as edible oil, wheat, flour, rice, pulses and sugar. The company is also present in industrial essentials. It already owns 22 plants in India of which 20 are acquisitions.