Adani Wilmar looking to acquire 3 FMCG brands in a billion-dollar shopping plan: Report

This is Fortune oil maker’s most aggressive capex plan and it comes after the group contemplated selling its Adani Wilmar stake, according to Mint.

Adani group’s FMCG arm Adani Wilmar is likely to acquire at least three spices, packaged edibles and ready-to-cook brands to bolster its presence in the burgeoning packaged consumer goods market, the Mint reported on September 2.

The firm might purchase firms based in the eastern and southern parts of the country, the report said, adding the group could invest up to $1 billion.

This is Fortune oil manufacturer's most aggressive capex plan and comes after the group contemplated selling its Adani Wilmar stake.

Moneycontrol couldn't verify the report independently.

Earlier in July, Bloomberg reported that the Gautam Adani-led Group and Wilmar International were in early talks to sell a minority stake in Adani Wilmar. Both entities were evaluating options to sell equal stakes worth 13 percent in total, it said.

For the June quarter, Adani Wilmar reported a standalone net profit of Rs 323 crore after posting a loss of Rs 38.44 crore in the year-ago period. Revenue increased to Rs 13,750.04 crore from Rs 12,378.83 crore in the year-ago period.

Adani Wilmar, a joint venture between Adani Enterprises and Singapore-based Wilmar International, sells edible oil variants, including mustard, sunflower and soyabean.