Adani Wilmer
Adani Wilmer Limited, a company that makes everyday goods, has said that it will acquire GD Foods Manufacturing, a company operating the tops brand. Adani Wilmer, who sells edible oil and other food products under the Fortune brand, said in a information to the stock market that it has signed a pucca agreement to acquire GD Foods Manufacturing (India) Private Limited. This acquisition will be completed in many installments. In this, 80 percent shares will be achieved in the first installment while the remaining 20 percent shares will be achieved in the next three years.
Tops products are sold in more than 1,50,000 shops
In FY 2023-24, GD Foods earned a revenue of Rs 386 crore. While its tax and interest-east income (Ebita) was Rs 32 crore. Adani Wilmer said that this acquisition will give him strategic benefits by expanding his portfolio. The brand ‘Tops’, owned by GD Foods established in 1984, has been established as a domestic brand in North India in the last 40 years. The sale of this company is mainly concentrated in seven states of North India, which has retail appearance in more than 1,50,000 shops. “The acquisition of GD Foods is in line with our vision and this will increase the company’s offerings to fulfill the emerging needs of Indian families,” said Angshu Malik, Managing Director and Chief Executive Officer (CEO) of Adani Wilmer Limited.
Share of Adani Wilmer
Adani Wilmer’s stock closed down on Wednesday at the Bombay Stock Exchange. The stock closed at Rs 239.80 with a decline of 1.13 per cent or Rs 2.75. The 52 week high of this stock is Rs 404. At the same time, 52 weeks are Rs 231.55. The company’s market cap is Rs 31,166.29 crore.
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