Adani Wilmar to Acquire GD Foods for INR 386 Crores, Expanding Food Portfolio with High-Margin Products

Adani Wilmar Limited (AWL) has signed a definitive agreement to acquire G.D. Foods Manufacturing (India) Private Limited (GD Foods). The acquisition will be executed in multiple tranches, with 80% of the shares to be acquired in the first tranche and the remaining 20% over the next three years. GD Foods achieved a revenue of INR 386 crores in FY’24, growing at a 3-year CAGR of 15%, and recorded an EBITDA of INR 32 crores. The acquisition will expand AWL’s portfolio with a broad range of value-added food products and add high-margin products. 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 various categories. The first tranche of the transaction is expected to close in 60 days and will be funded by internal accruals or IPO proceeds.