Adani Wilmar, a major player in India’s FMCG sector through its joint venture with Wilmar Group of Singapore, has announced the acquisition of a 67% stake in Omkar Chemicals Industries for Rs 56 crore. The company is well-known for its diverse product portfolio, including edible oils, wheat flour, rice, pulses, chickpea flour (besan), and sugar, along with its significant presence in the oleochemicals market.
In a recent regulatory filing, Adani Wilmar finalized a share subscription and purchase agreement to secure the majority stake in Omkar Chemicals Industries Pvt Ltd, a specialist in the chemicals sector. The transaction, valued at Rs 56.25 crore and payable in cash, is expected to be completed within the next 3-4 months.
Omkar Chemicals operates a manufacturing facility in Panoli, Gujarat, with an annual production capacity of approximately 20,000 tonnes of surfactants. The company is also expanding its capabilities to include additional product lines.
The specialty chemicals market presents a lucrative opportunity across various sectors, such as home and personal care, food additives, plastics, polymers, agrochemicals, and lubricants. Adani Wilmar currently engages in this sector through third-party manufacturing and imports from Wilmar’s global plants. The acquisition of Omkar Chemicals will enable Adani Wilmar to establish local manufacturing capabilities and strengthen its position in this competitive market.
Saumin Sheth, Chief Operating Officer of Adani Wilmar, highlighted the strategic importance of the acquisition, emphasizing that it would enhance Adani Wilmar’s production capabilities and enable the company to better meet customer needs. The focus is on expanding the product range with Wilmar’s diverse portfolio, aligning with strategic objectives in downstream derivatisation of oleochemicals.
Through this acquisition, Adani Wilmar aims to consolidate its presence in the specialty chemicals sector and expand its offerings in the Indian market, leveraging synergies to drive growth and innovation.
