Adani Wilmar diversifies portfolio with majority stake in specialty chemicals maker

As part of a strategic move to expand its operations in the specialty chemicals industry, Adani Wilmar Limited announced the acquisition of a 67% stake in Omkar Chemical Industries Private Limited (OCIPL), a Gujarat-based specialty chemicals company.

What happened: The acquisition was announced on Thursday evening. Adani Wilmar has signed a share subscription and purchase agreement with OCIPL. The move is in line with Adani Wilmar’s strategy to increase its presence in the specialty chemicals industry.

Omkar Chemicals operates a manufacturing unit at Panoli, Gujarat, with an annual production capacity of around 20,000 tonnes of surfactants and is currently expanding its capacity for other products as well, Adani Group the company informed in a press release. The entrepreneurs promoting Omkar Chemicals have over 15 years of experience in the specialty chemicals manufacturing industry. The turnover of the company in the year 2023-24 was ₹13.95 crore.

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The specialty chemicals market offers opportunities for various sectors such as home and body care products, food additives, plastics and polymers, agrochemicals, and lubricants and petrochemicals.

Saumin Sheth, Chief Operating Officer of Adani Wilmar, expressed his delight at the acquisition, stating, “We are pleased to add these specialty chemicals which further derivatize our product portfolio. With this acquisition, AWL will immediately establish a manufacturing footprint and capabilities that will enable us to better meet customer requirements.”

The acquisition is expected to be completed in the next 3-4 months. The transaction, which will be paid in cash, is valued at ₹56.25 crore.

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