Adani Wilmar ?
Adani Wilmar Limited is an Indian multinational company based in Ahmedabad. This was a joint venture that happened in 1999 between Adani Enterprises and Wilmar international Singapore. If we talk about the business of this company it is one of the largest processors of Palm oil and has more than 22 plants across India. AWL’s business range is Edible oil, Food, FMCG, and Industry essentials. Hopefully, everyone knows about Fortune’s refined oil.
Acquisitions under Adani Wilmar Ltd.
2005 AWL group acquired Mantralayam and Haldia Plants refinining. Between 2006 to 2009 this group acquired multiple refining and crushing units from Nagpur and Neemuch. Rajshri Packagers, Acalmar Oils, and Fats were also acquired by this group. In 2018 Louis Dreyfus commodities edible oil refinery was one of the big acquisitions. In 2022 AWL group acquired the Charminar rice brand along with Kohinoor and Trophy Royale. In 2024 it increased its size by acquiring 67% share of Omkar Chemical Industries. Most of the people can understand this venture by one of the products under this umbrella was Fortune edible oil. AWL sells other products like rice, soy chunks, and Flour. Many ready-to-cooked products are also part of this company.
Controversies on AWL Group
In 2016 Government of Maharashtra given a statement that AWL group had Violated regulations set by the FDA ( Food and Drug Administration) for promoting its blended edible oil Fortune Vivo. In 2022 as per C4ADS reports stated that Adani Wilmar is enabling indiscriminate import of tainted Palm oil. In 2023 Supreme Court of India warned the Adani Wilmar group for Violation Of Coastal Regulations in Tamil Naidu. A big Decision was taken by Adani Group by the end of the year 2024 On 30th Dec:
The Adani Group announced its exit from Singapore Wilmar Group.
As per news currently, Adani group has having 43.94% share in Adani Wilmar Ltd. As per the plan, Adani will sell 31.06% shares to the Wilmar group and the rest shares will be for the public. As per estimation, Adani Group will raise billions from this decision, and later on they will invest this money in businesses like utilities and energy. This venture happened in 1999 and was a long journey of 26 years.