Adani Group Is Mulling To Exit Wilmar FMCG Joint Venture And ITC Eyeing On Buying Stake Of Adani JV

Adani Wilmar JV: Big news has come regarding Adani Group. Adani Group is considering selling its entire stake in its JV company Adani Wilmar. Adani sells edible oil and other food products under the Wilmar Fortune brand name. Adani Wilmar is a joint venture company in which Adani Group and Singapore’s Wilmar International are stakeholders. Both the companies hold 43.97 percent stake in it.

ITC will buy Adani Wilmar’s share!

According to the report published in Financial Express, the country’s FMCG giant ITC can now buy its stake in Adani Group company Adani Wilmar. However, there was no response from Adani to the mail sent regarding selling stake in Wilmar JV. ITC spokesperson said that the company does not comment on market speculations.

ITC will re-enter edible oil business

There is increasing talk that Kolkata based company ITC is planning to re-enter the edible oil business. According to informed sources, this is the reason for ITC’s plan to buy 44 percent stake in Adani Wilmar, a giant in cigarette to FMCG business. Adani Wilmar’s increasing presence in branded products could be one reason why ITC is considering it.

ITC wants to expand food business

The producer of Sunfeast biscuits, Ashirvad atta and Yippee noodles is looking to expand its food business. The food business accounts for about 83-84 per cent of ITC’s total FMCG revenue of Rs 19,123 crore for FY23. Sector experts say that in areas like branded commodities, there has been a rapid shift from unbranded to branded in the last few years. Through this, national and local players have been inspired to increase their presence.

ITC had sold edible oil business 20 years ago

However, ITC had exited the edible oil business two decades (20 years) ago. The company had sold its controlling stake in ITC Agro Tech to its then food business partner company Conagra Foods. Sources have said that ITC had not stopped the idea of ​​returning to this business. Therefore, ITC can return to the edible oil business, provided it gets a strong brand and processing plant. Conagra Foods of America is now called Conagra Brands.

Discussion with many companies of Adani Group to sell stake

It has been said in many media reports that Ahmedabad-based Adani Group is also in talks with some other investors. Adani Group is in talks with several players like some multinational consumer companies as well as financial investors like GQG Partners and Qatar Investment Authority (QIA) to sell its stake in Wilmar. Adani Group is looking to sell its stake worth about $2.5-3 billion (Rs 20,000-24,000 crore) in this joint venture of Adani and Wilmar. There are reports that Adani Group wants to exit this food business JV to focus on energy and infrastructure business or Adani Group is focusing on consolidating the business.

Among the big food business companies of the country Name of Adani Wilmar

Adani Wilmar JV has been one of the top refiners in the country with an income of Rs 58,185 crore and Rs 582 crore in FY 2023. It is most popular for Fortune brand of edible oil and food products. According to its website, the company reaches more than 113 million (113 million) homes, has 23 manufacturing plants and 5,700 distributors.

Many local companies of edible oil business are present in India.

Some of the local players in India’s edible oil market include Agro Tech Foods, which produces edible oils under the Sundrop brand name, Cargill India, which produces NatureFresh, Accept and Gemini refined oils. Whereas Banj India makes Dalda Vanaspati and cooking oil. Apart from these, other brands are also included in which the prominent names are Emami Agrotech (Healthy and Tasty), Marico (Saffola) and Patanjali Foods.

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