Adani Wilmar to acquire GD Foods

Adani Wilmar is acquiring GD Foods, owner of the Tops brand, to enhance its kitchen essentials portfolio. Initially, it will acquire 80% of the company for Rs 603 crore, with the remaining 20% over the next three years. This acquisition will strengthen AWL’s offerings, including edible oil, pulses, atta, suji, and soya nuggets under the Fortune brand. It will be funded through internal accruals and IPO proceeds.