Adani Wilmar has entered into a Share Subscription and Share Purchase Agreement for taking a majority stake of 67% in Omkar Chemical Industries (OCIPL), Gujarat. The acquisition is in line with the company’s strategy to increase its presence in the specialty chemical industry. Cost of acquisition is Rs 56.25 crore (subject to closing adjustments thereto). The acquisition is expected to be completed within 3-4 months.
Adani Wilmar is one of the few large FMCG food companies in India to offer most of the essential kitchen commodities for Indian consumers, including edible oil, wheat flour, rice, pulses and sugar. Its products are offered under a diverse range of brands across a broad price spectrum and cater to different customer groups.
