Cyril Amarchand Mangaldas advised and represented Adani Wilmar Limited (“AWL”) on the acquisition of 100% stake in G.D. Foods Manufacturing India Private Limited (“G.D. Foods”) from the promoters of G.D. Foods, in multiple tranches. In the first tranche, 80% stake will be acquired upfront, and the balance 20% stake will be acquired within the next 3 years.
G.D. Foods is engaged in the business of manufacturing, packaging, selling and marketing of various types of processed and preserved food products such as tomato ketchup, speciality and culinary sauces, jams, pickles, noodles, instant mixes, corn and choco flakes, vinegar, baking powder, cake mixes, etc. under the brand name ‘Tops’ which is one of the top three brands in the tomato ketchup and pickles segment, making it a valuable addition to AWL’s business.
The transaction team was led by Jay Parikh, Partner; with support from Ayushi Toshniwal, Principal Associate; Saranya Lal, Associate; Priyamvada Sharma, Associate; Yashpal Desai, Associate; and Mehar Arora, Associate.
Swati Sharma, Partner (Head – Intellectual Property) and Revanta Mathur, Partner; with support from Sannat Chandna, Senior Associate; conducted due diligence on the intellectual property, information technology and data security aspects.
Bishen Jeswant, Partner; with support from Akash Mishra, PA – Designate; Rohini Dayalan, Senior Associate; and Nilavan S, Associate. conducted due diligence on the employment and labour aspects for the transaction.
Ashish Jain, Partner; with support from Karan Sharma, Principal Associate; and Shorya Choudhary, Associate; assisted on due diligence on the real estate aspects.
Dhruv Rajain, Partner; with support from Rajat Sharma, Senior Associate; assisted on competition law aspects of the transaction.
The transaction was signed on 4th March, 2025.
