Adani Wilmar to acquire G.D. Foods
The company told BSE that it will acquire 80% shares from existing promoters. The remaining 20% will be acquired in a phased manner for over the next 3 years
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Published: Mar 6, 2025 4:17 PM | 1 min read
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Indian FMCG major Adani Wilmar is set to acquire G.D. Foods, a sauces and pickles company and the owner of the brand ‘Tops.’
The company told BSE that it will acquire 80% shares from existing promoters, subject to the fulfilment of various terms and conditions. The remaining 20% will be acquired in a phased manner for over the next 3 years.
The acquisition is in line with the company's aim to address large opportunity in packaged staple foods category.
Adani Wilman also intends to bring its best-in-class manufacturing and operational capabilities to leverage the strength of “Tops” products.
The existing promoter will continue to support in the value creation and transitioning the business to Adani Wilmar. G.D Foods will continue to operate as a separate entity.
The acquisition will be funded through internal accruals and IPO proceeds (if applicable).
"This transaction will lay a strong foundation to build a formidable presence in the value-added products over time," said the company.
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