Food Brands

Adani Wilmar announces acquisition of Tops parent GD Foods in phased deal

FMCG firm Adani Wilmar Ltd on Tuesday announced the acquisition of GD Foods Manufacturing, which sells food products under the Tops brand. Adani Wilmar sells edible oils and other food products under the Fortune brand. In a regulatory filing, the company informed that it has signed a definitive agreement to acquire G D Foods Manufacturing (India) Private Limited. The acquisition will be executed in multiple tranches, with 80 per cent of the shares to be acquired in the first tranche and the remaining 20 per cent over the next three years. In FY24, GD Foods achieved a revenue of Rs 386 crore, growing at a three-year CAGR of 15 per cent, and recorded an EBITDA of Rs 32 crore. Adani Wilmar said this acquisition offers a strategic advantage by expanding its portfolio with a broad range of value-added food products. Founded in 1984, GD Foods' owned brand "Tops" has built a strong reputation as a household brand in North India over the last 40 years, offering high-quality products in .

Bidders of Haldiram Snacks Foods seek clarity on ownership of the brand

Bankers said prospective bidders of the company do not want any confusion over the brand in future and have sought clarity over the usage of the brand

Adani Wilmar eyes high-end clients as it looks to increase premium play

To drive growth in the category, the company is now targeting the premium consumer

Food company Annapurna acquires 'Arati' edible oil brand for Rs 28 cr

Packaged food company Annapurna Swadisht Ltd on Wednesday announced that it has acquired the six-decade-old 'Arati' brand mustard oil from R R Proteins and Agro Ltd (RRPAL) for a consideration of Rs 28 crore. The acquisition would help the company foray into the edible oil segment and strengthen its FMCG portfolio. The estimated amount of Rs 28 crore includes the cost of acquisition of manufacturing unit and the brand, a company official said. The funding for the deal would be a combination of internal accruals and debt, he said. RRPAL has a production capacity of 9 lakh litres of oil per month, and the acquisition will enable Annapurna Swadisht to enter a new business vertical of edible oil, he said. "We believe that acquisition offers an opportunity that aligns well with the company's overall strategy of becoming a formidable player in the packaged food industry in the semi-urban and rural markets of India," Annapurna Swadisht Ltd (ASL) Managing Director Shreeram Bagla said. Th

Orkla announces restructuring of India operations into three business units

This move will enhance the collective business capabilities and drive sharper growth focus across Business Units

ITC increases stake in food brand Sproutlife to 39.42% for Rs 175 cr

Earlier in January this year, ITC had said that it would acquire 100% of Sproutlife Foods Private Limited, makers of Yoga Bar healthy foods

Desi Farms Raises Growth Fund from Marquee Angels, Bestvantage Investments and Others

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Cannot claim monopoly on the term 'sub', Delhi High Court tells Subway

Delhi High Court said the term 'sub' is used widely by eateries for submarine sandwiches

Food brand Whole Truth raises $15mn in series B led by Sequoia Capital

Company will use money for expanding manufacturing, hiring and retail distribution

Debutants put up a good show; Medanta soars 24%, Bikaji Foods up 6%

Medanta's stock hit a high of Rs 424.65 and a low of Rs 390.55 on the NSE, where Rs 2,000 crore worth of shares changed hands

Instant food brand Yu raises Rs 20 cr funding for business expansion

Company says it will 'aggressively expand' presence in US, Africa and West Asia

PEs add spice firms to shelf, invest Rs 5,000 cr to expand biz, enter mkt

Market is expected to touch Rs 50K-crore mark by 2025

ONDC to start outreach programme to help sellers speed up their business

The first event of the programme will be an introductory session in Delhi NCR for restaurants, food entrepreneurs and cloud kitchens, on Oct 17

FSSAI rules: Here is what packaged food and restaurant menus must mention

The government on November 17, 2020, notified the norms under the Food Safety And Standards (Labelling and Display) Regulations, 2020, for producers, retailers, and servers

Pizza, pasta and beyond: How Italian food is changing Indian dining

A guide to how to pick and how to cook one the world's most popular cuisines

Marico's India business volume declines in mid-single-digits in Q1

The company's Parachute coconut oil also recorded a marginal volume decline in the quarter

Ruchi Soya Industries renamed Patanjali Foods with effect from June 24

In May, Ruchi Soya announced the acquisition of Patanjali Ayurved's entire food business for Rs 690 crore, in order to speed up its transition into an FMCG company

Bikaji Foods International files for IPO, may raise around Rs 1,000 cr

Certain shareholders of the Rajasthan-based company, including two promoters, plan to offload around 2.94 crore shares through the OFS route

Adani Wilmar plans to buy local food brands with funds from upcoming IPO

Small part of proceeds will also go towards expanding its edible oil capacity in eastern India, where its capacity utilisation is high and the market is growing at a fast pace

Britannia revamps biscuit brand Good Day, to add three more variants

Britannia will launch Good Day Harmony and two other variants in the premium segment