New Delhi: Edible oil major Adani Wilmar Ltd will acquire a 67 per cent stake in Omkar Chemicals Industries at an enterprise value of Rs 56 crore.
Adani Wilmar, a joint venture between Adani Group and Wilmar Group of Singapore, is one of the largest FMCG companies in India. The company has a diversified product portfolio offering most kitchen essentials including edible oil, wheat flour, rice, pulses, gram flour (besan) and sugar. He is also a leading player in oleochemicals.
In a regulatory filing on Thursday, Adani Wilmar said it has signed the subscription and share purchase agreement to acquire a majority stake of 67 per cent in Omkar Chemicals Industries Pvt Ltd, a specialty chemicals company.
The acquisition is expected to be completed within 3-4 months, "at an enterprise value of Rs 56.25 crore (subject to closing adjustments) to be paid in cash."
Omkar Chemicals operates a manufacturing plant in Panoli, Gujarat, with an annual capacity of around 20,000 tonnes of surfactants and is expanding capacity for other products.
The specialty chemicals market presents a significant opportunity in various sectors such as household and personal care products, food additives, plastics and polymers, agrochemicals and lubricants and petrochemicals, Adani Wilmar said, adding that the company currently operates in this sector through third parties. manufacturing and importing from Wilmar plants.
"Through this acquisition, Adani Wilmar will immediately establish a production footprint and capabilities that will enable us to better meet customer requirements," said Saumin Sheth, COO of Adani Wilmar.
"Derivatization of our core oleochemical products in select areas is a strategic approach for us, in line with the approach of our co-promoter Wilmar International, which is the world's largest manufacturer of oleochemicals. We aim to bring Wilmar's diversified product portfolio and its partners to India to better serve our customers," he added.
Adani Wilmar, a joint venture between Adani Group and Wilmar Group of Singapore, is one of the largest FMCG companies in India. The company has a diversified product portfolio offering most kitchen essentials including edible oil, wheat flour, rice, pulses, gram flour (besan) and sugar. He is also a leading player in oleochemicals.
In a regulatory filing on Thursday, Adani Wilmar said it has signed the subscription and share purchase agreement to acquire a majority stake of 67 per cent in Omkar Chemicals Industries Pvt Ltd, a specialty chemicals company.
The acquisition is expected to be completed within 3-4 months, "at an enterprise value of Rs 56.25 crore (subject to closing adjustments) to be paid in cash."
Omkar Chemicals operates a manufacturing plant in Panoli, Gujarat, with an annual capacity of around 20,000 tonnes of surfactants and is expanding capacity for other products.
The specialty chemicals market presents a significant opportunity in various sectors such as household and personal care products, food additives, plastics and polymers, agrochemicals and lubricants and petrochemicals, Adani Wilmar said, adding that the company currently operates in this sector through third parties. manufacturing and importing from Wilmar plants.
"Through this acquisition, Adani Wilmar will immediately establish a production footprint and capabilities that will enable us to better meet customer requirements," said Saumin Sheth, COO of Adani Wilmar.
"Derivatization of our core oleochemical products in select areas is a strategic approach for us, in line with the approach of our co-promoter Wilmar International, which is the world's largest manufacturer of oleochemicals. We aim to bring Wilmar's diversified product portfolio and its partners to India to better serve our customers," he added.
