Edible oil maker and FMCG company Adani Wilmar is planning to make an entry into the $20 billion Indian spice market through the acquisition of regional brands. The Indian spice market is extremely fragmented, with well over 60 per cent of it in the hands of unorganised players who have a firm hold in specific regions. Adani Wilmar, which reported a topline of ₹58,185 crore in FY23, sells an array of staples under its Fortune brand. Edible oils account for 62 per cent of its portfolio in terms of volumes and 76 per cent in value. The Adani Group, which is focused on the infrastructure sector in a big way, had put Adani Wilmar on the block as part of its strategy to exit non-core areas and use its resources optimally.

Source: The Hindu March 04, 2024 03:56 UTC