Adani Wilmar Limited Expands Portfolio with G.D. Foods Acquisition
On March 4, 2025, Adani Wilmar Limited (AWL) finalized a strategic acquisition of a 100% stake in G.D. Foods Manufacturing India Private Limited (G.D. Foods), a prominent player in the processed food industry. The transaction, advised by Cyril Amarchand Mangaldas, will be executed in multiple phases, with AWL initially acquiring an 80% stake, followed by the remaining 20% within three years.
About G.D. Foods
G.D. Foods is well-regarded for its diverse range of processed and preserved food products. Its offerings include:
- Tomato ketchup
- Speciality and culinary sauces
- Jams and pickles
- Noodles and instant mixes
- Corn flakes and choco flakes
- Vinegar and baking powder
- Cake mixes
The company markets these products under the brand name ‘Tops,’ which ranks among the top three brands in the tomato ketchup and pickles segments, enhancing the value of AWL’s portfolio.
Details of the Transaction
The legal team at Cyril Amarchand Mangaldas, led by Partner Jay Parikh, played a critical role in facilitating this acquisition. They were supported by a skilled team including:
- Ayushi Toshniwal, Principal Associate
- Saranya Lal, Associate
- Priyamvada Sharma, Associate
- Yashpal Desai, Associate
- Mehar Arora, Associate
Due Diligence Aspects
Comprehensive due diligence was conducted across various aspects of the acquisition:
- Intellectual Property and Data Security: Swati Sharma (Partner, Head – Intellectual Property) and Revanta Mathur (Partner) led the team, with support from Sannat Chandna, Senior Associate.
- Employment and Labour Matters: Bishen Jeswant (Partner) oversaw this area, assisted by Akash Mishra (PA – Designate), Rohini Dayalan (Senior Associate), and Nilavan S (Associate).
- Real Estate Considerations: Partner Ashish Jain, along with Karan Sharma (Principal Associate) and Shorya Choudhary (Associate), handled the real estate due diligence.
- Competition Law: Dhruv Rajain (Partner) addressed competition law issues, supported by Rajat Sharma (Senior Associate).
The consolidation of these legal services highlights the complexity and thoroughness required in significant acquisition transactions.
Conclusion
This acquisition positions Adani Wilmar Limited to further strengthen its market presence in the food sector while diversifying its product offerings. The involvement of Cyril Amarchand Mangaldas underscores the legal intricacies that accompany major business transactions in today’s competitive landscape.
