Sauce, Spice & Everything Nice: AWL’s Bold Tops Acquisition Shakes Up India’s Food Aisle

AWL Agri Business Ltd ( Adani Wilmar) has declared a landmark acquisition, signing a binding agreement to take over GD Foods Manufacturing, the producer of the popular Tops brand, through a staged transaction worth ₹603 crore for the initial 80% equity stake. The remaining 20% will be picked up within three years, and complete integration is aimed by FY 2028-29.

The deal strengthens AWL Agri Business's vision to establish itself as a major player in India's rapidly expanding value-added foods and FMCG space.

 

Sources: Business Standard, Economic Times, Times of India