Adani Wilmar Ltd, a major player in the edible oil sector, is set to acquire a 67% stake in Omkar Chemicals Industries for Rs 56 crore.
Adani Wilmar, a joint venture of the Adani Group and Singapore’s Wilmar Group, is one of India’s largest FMCG companies. They offer a wide range of kitchen essentials such as edible oil, wheat flour, rice, pulses, chickpea flour (besan), and sugar. The company is also a leader in oleochemicals.
In a regulatory filing on Thursday, Adani Wilmar announced it has signed an agreement to purchase a majority stake in Omkar Chemicals Industries Pvt Ltd, a speciality chemicals manufacturer. The acquisition, valued at Rs 56.25 crore, is expected to be finalized in 3-4 months and will be paid in cash.
Omkar Chemicals has a manufacturing plant in Panoli, Gujarat, with an annual capacity of about 20,000 tonnes of surfactants. They are also expanding their capacity for other products.
The speciality chemicals market offers vast opportunities in sectors like home and personal care products, food additives, plastics and polymers, agrochemicals, and lubricants and petrochemicals. Adani Wilmar, which currently operates in this sector through third-party manufacturing and imports from Wilmar’s plants, sees this acquisition as a strategic move.
“With this acquisition, Adani Wilmar will establish production capabilities to meet customer demands better,” said Saumin Sheth, Chief Operating Officer of Adani Wilmar. “We aim to leverage Wilmar International’s expertise, the world’s largest oleochemical manufacturer, to diversify our product portfolio in India.”
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Source: Moneycontrol
News Desk
