India's Adani Wilmar acquires majority stake in Omkar Chemicals

Adani Wilmar Limited (AWL), one of the largest Food FMCG player in India and a leading player in Oleochemicals in the country, having largest Oleo-chemical plant of the Country in Mundra, has signed the share subscription and share purchase agreement to take a majority stake of 67% in Omkar Chemicals Industries Private Limited, a specialty chemicals Company. Omkar Chemicals operates a manufacturing plant in Panoli, Gujarat with an annual capacity of around 20,000 MT of Surfactants and is further adding capacity for other products as well. The entrepreneurs promoting Omkar Chemicals bring over 15 years of experience in the specialty chemicals manufacturing industry.

The specialty chemicals market presents a significant opportunity across diverse sectors such as home & personal care products, food additives, plastics & polymers, agrochemicals, and lubricants & petrochemicals. AWL currently operates in this sector through third-party manufacturing and by importing from Wilmar’s plants.

Mr. Saumin Sheth, the chief operating officer of Adani Wilmar said “We are pleased to add these Specialty chemicals, which represent further downstream derivatization of our product portfolio. Through this acquisition, AWL will immediately establish a production footprint and capabilities that will allow us to better meet customer requirements. Downstream derivatization of our Basic Oleochemicals in select areas is a strategic focus for us, in line with the focus of our co-promoter Wilmar International which is the world’s largest Oleo-chemical manufacturer. We aim to bring the diversified product portfolio of Wilmar and its associates to India to better serve our customers”.

Note: The content of this press release has not been edited by Fibre2Fashion staff.

Fibre2Fashion News Desk (HU)