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Adani Wilmar to acquire Tops ketchup maker G.D. Foods
Mint Mumbai
|March 05, 2025
Packaged goods company Adani Wilmar Ltd on Tuesday signed the deal to take over smaller player G.D. Foods Manufacturing (India) Pvt. Ltd, the maker of Tops ketchup and noodles.
The acquisition will be executed in multiple tranches, with 80% of the shares to be bought in the first tranche at an enterprise value of ₹603 crore, and the remaining 20% to be acquired over the next three years, Adani Wilmar said in a stock exchange filing.
Mint reported in September that the Adani Group had built a $1 billion war chest for acquisitions aimed at boosting the conglomerate's food and packaged goods business.
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