Cyril Amarchand Mangaldas, JSA act on acquisition of Tops by Adani Wilmar

Adani Wilmar Limited has made a 100% acquisition of 'Tops' manufacturer G.D. Foods Manufacturing India Pvt. Ltd. from its promoters in multiple tranches.

Cyril Amarchand Mangaldas advised Adani Wilmar on this acquisition.

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.

JSA advised G.D. Foods and its promoter on this transaction.

The transaction team consisted of Siddharth Mody (Lead Partner), Rohan Kumar (Partner), Yamini Upadhyay (Senior Associate) and Ayush Chaturvedi (Associate).

This acquisition will be executed in a phased manner, with AWL initially securing 80% of the shares, and the remaining 20% to be acquired over the subsequent three years. This move allows Adani Wilmar to expand its product portfolio, incorporating a range of items including pickles, sauces, and other culinary products.

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, specialty 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 Adani Wilmar’s business.

If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.