AWL Agri Business Ltd strengthens Food portfolio through strategic collaboration with Shree Renuka Sugars Ltd

AWL Agri Business Limited (AWL), one of the largest Food FMCG companies in India, today announced a strategic arrangement with Shree Renuka Sugars Limited (SRSL), to further strengthen market reach and accelerate growth in the packaged foods business.

Under this arrangement, SRSL will license its flagship brand "Madhur" to AWL, enabling the brand to leverage the extensive pan-India distribution, marketing capabilities and scale in the packaged food business of AWL. AWL will undertake the sales, marketing and distribution of the refined sugar under "Madhur" brand.

The brand is licensed to AWL under a mutually agreed royalty arrangement between AWL and SRSL, in accordance with the licensing agreement.

This arrangement will enable AWL to access SRSL's existing distribution network, which can also be leveraged over time to expand the reach of "Fortune" products. The addition of the brand "Madhur" will further accelerate the scale and growth of AWL's Food & FMCG segment, while also strengthening its position in the branded sugar business.

Commenting on the announcement, Mr. Shrikant Kanhere, MD & CEO, AWL Agri Business Limited (formerly Adani Wilmar Limited) said: "This arrangement allows us to further leverage our strong distribution infrastructure, marketing capabilities and large food portfolio to scale 'Madhur' brand across India. The addition of this strong brand complements our existing product offerings and strengthens our fast-growing packaged food business. We see significant opportunities to expand market reach and drive category growth by combining the strong brand equity with our extensive distribution network."

Mr. Susheel Kumar Kamboj, MD & CEO, Shree Renuka Sugars Limited said: "SRSL has successfully created 'Madhur' brand as a flagship consumer brand. We are pleased to collaborate with AWL, whose strong distribution platform and marketing capabilities will help to unlock the next phase of growth for 'Madhur' in India."

Shares of Adani Wilmar Limited was last trading in BSE at Rs. 193.40 as compared to the previous close of Rs. 193.05. The total number of shares traded during the day was 130716 in over 1823 trades.

The stock hit an intraday high of Rs. 196.05 and intraday low of 192.45. The net turnover during the day was Rs. 25340596.00.

Source : Equity Bulls

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AWLAgriBusiness INE699H01024 EdibleOil FoodPortfolio