AWL Agri Business Limited (AWL), formerly known as Adani Wilmar Limited, announced a strategic arrangement with Shree Renuka Sugars Limited (SRSL) to strengthen market reach and accelerate growth in the packaged foods business.
Under the arrangement, SRSL will license its flagship brand 'Madhur' to AWL, enabling the brand to leverage AWL's pan-India distribution network, marketing capabilities, and scale in the packaged food business. AWL will undertake sales, marketing, and distribution of refined sugar under the Madhur brand.
The brand is licensed under a mutually agreed royalty arrangement between AWL and SRSL in accordance with a licensing agreement. The arrangement will also allow AWL to access SRSL's existing distribution network, which can be leveraged over time to expand the reach of Fortune products.
AWL said the addition of Madhur will accelerate the scale and growth of its Food and FMCG segment while strengthening its position in the branded sugar business.
Shrikant Kanhere, Managing Director and Chief Executive Officer of AWL, said the arrangement allows the company to use its distribution infrastructure, marketing capabilities, and food portfolio to scale the Madhur brand across India. He noted significant opportunities to expand market reach by combining the brand equity of Madhur with AWL's distribution network.
Susheel Kumar Kamboj, Managing Director and Chief Executive Officer of Shree Renuka Sugars, said SRSL has built Madhur as a flagship consumer brand and is pleased to collaborate with AWL to unlock the next phase of growth for the brand.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.