GD Foods to be acquired by Adani Wilmar for over Rs 600 crore
FMCG firm GD Foods Manufacturing (India) is set to be acquired by Adani Group's flagship firm, Adani Wilmar Ltd. Adani Wilmar is the owner of the popular brand Fortune edible oil. As per updates, the acquisition will occur in stages, with 80% of shares acquired initially and the remaining 20% over 3 years.
GD Foods achieved a revenue of Rs 386 crore in FY24.