In a regulatory filing on Thursday, Adani Wilmar said it has signed the share subscription and share purchase agreement to take a majority stake of 67 per cent in Omkar Chemicals Industries Pvt Ltd, a speciality chemicals company.
Omkar Chemicals operates a manufacturing plant in Panoli, Gujarat, with an annual capacity of around 20,000 tonnes of surfactants, which are key ingredients in detergents, soaps, and cleaning solutions, and also used in pesticides and herbicides to improve their effectiveness.
This move will enhance Adani Wilmar's presence in the speciality chemicals market, allowing them to better meet customer requirements.
With this acquisition, Adani Wilmar will gain access to Omkar Chemicals' manufacturing plant in Panoli, Gujarat, which produces surfactants. This expands their presence in the speciality chemicals market. With Omkar Chemicals' expertise, Adani Wilmar can diversify its product portfolio beyond edible oils and agri-commodities.
Omkar Speciality Chemicals Ltd is a chemical company based in Mumbai, India. The company is primarily engaged in the production of specialty chemicals and pharma intermediates. The product range of Omkar Speciality Chemicals includes iodine derivatives, methyl iodide, ethyl iodide, chloroiodomethane, and more.
Adani Wilmar, a joint venture between Adani Group and Singapore's Wilmar Group, is one of the largest consumer food FMCG companies in India. The company has a diversified product portfolio offering most of the primary kitchen essentials, including edible oil, wheat flour, rice, pulses, chickpea flour (besan) and sugar. It is also a leading player in oleochemicals.
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