Adani Wilmar Diversifies Portfolio With Majority Stake Acquisition In Speciality Chemicals Company

In a strategic move to expand its footprint in the speciality chemical industry, Adani Wilmar Limited has announced the acquisition of a 67% stake in Omkar Chemical Industries Private Limited (OCIPL), a Gujarat-based speciality chemicals company.

What Happened: The acquisition was announced on Thursday evening. Adani Wilmar has signed a share subscription and share purchase agreement with OCIPL. This move aligns with Adani Wilmar’s strategy to intensify its presence in the speciality chemical industry.

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 Adani Group company said in a press release. The entrepreneurs promoting Omkar Chemicals bring over 15 years of experience in the speciality chemicals manufacturing industry The company’s turnover for the year 2023-24 was ₹13.95 crore.

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The speciality chemicals market presents an opportunity across diverse sectors such as home & personal care products, food additives, plastics & polymers, agrochemicals, and lubricants & petrochemicals.

Saumin Sheth, Chief Operating Officer of Adani Wilmar, expressed his satisfaction with the acquisition, stating, “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.”

The acquisition process is expected to conclude within the next 3-4 months. The deal, to be paid in cash, is valued at an enterprise value of ₹56.25 crore.

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