ITV

Category: Brands

  • Why Adani Wilmar wants to swallow Tops brand owner GD Foods

    Why Adani Wilmar wants to swallow Tops brand owner GD Foods

    MUMBAI: Packaged foods giant Adani Wilmar Limited (AWL) has developed an appetite for acquisitions, the latest one being for GD Foods Manufacturing, a privately held maker of kitchen foods and ingredients. 

    It informed the  Bombay stock exchange through a regulatory filing  today of  its plans to acquire the company which is the maker of the popular Tops  brand of sauces, pickles and other food products. It informed the bourse that  it has signed a  share purchase agreement (SPA) to acquire 80 per cent of its equity capital  at a price per share based on an enterprise valuation of Rs 603 crore. 

    The acquisition marks a significant step in AWL’s strategy to diversify its product portfolio beyond edible oils into higher-margin food categories. 

    The deal aligns perfectly with AWL’s ambition to strengthen its position in the branded foods segment. GD Foods, with its Tops brand, generated Rs 386 crore in revenue for FY24, growing at an impressive 15 per cent CAGR over the past three years. The company offers more than 80 products across eight plus categories and has established a strong presence in north and central India with over 150,000 retail touchpoints spanning 15 plus states.

    Key synergies from the acquisition include:
    * AWL will significantly enrich its offering with high gross-margin products while maintaining focus on kitchen essentials.
    * The acquisition brings another strong brand to AWL’s kitchen essentials category.
    * GD Foods adds new product categories with limited competition from national players, particularly in sauces where Tops is the No 1 brand in culinary sauces and No 3 in tomato ketchup in North India.

    AWL plans to unlock value through its robust sales and distribution network. Its  deep partnerships with modern retail channels, including quick-commerce platforms, will benefit the Tops brand. The acquisition will expand Tops’ reach into rural markets using AWL’s established infrastructure, says the latter. 

    North India, which is Tops’ core market, is also AWL’s strongest region, creating immediate synergies. AWL will leverage its pan-India presence to introduce select Tops products to new markets The combined entity aims to capitalise on AWL’s strong partnerships with organised retailers.

    AWL will initially acquire 80 per cent of shares from existing promoters, with the remaining 20 per cent  to be acquired in phases over the next three years at a pricing formula agreed upon in the SPA. The existing promoters will continue to support the business transition, and GD Foods will operate as a separate entity. The acquisition will be funded through internal accruals and IPO proceeds (if applicable), with completion targeted within 60 days, subject to customary closing conditions, said AWL.

    The deal comes as India’s packaged foods market is showing tremendous growth potential, with significant  headroom for branded products to gain market share from the unorganised sector. 

    * Edible Oils: Rs 2.0 lakh crore market with 75 per cent  branded product penetration
    * Wheat: Rs 1.5 lakh crore market with only 12 per cent branded product  penetration
    * Rice: Rs 2.1 lakh crore market with just 11 per cent  branded product penetration
    * Pulses & Besan: Rs 1.2 lakh crore market with merely 5 per cent  branded product penetration 
    * Sugar: Rs 0.6 lakh crore market with 6 per cent  branded product penetration
    * Spices: Rs 1.4 lakh crore market with 18 per cent  branded product penetration 

    For both companies, this strategic move represents an opportunity to combine complementary strengths: AWL’s manufacturing excellence, widespread distribution network and financial might paired with Tops’ strong brand equity, innovative product range and market leadership in specific categories. 

    AWL currently has impressive scale with:
    * Packaged staple foods revenue of approximately Rs 37,000 crore (as of Dec’24).
    * Household reach of 121 million
    * 2.1 million retail touchpoints
    * Edible oil division with last twelve months (LTM)  Dec’24 revenue of Rs 45,208 crore.
    * Food & FMCG division with LTM Dec’24 revenue of Rs 6,150 crore.
    * Industry essentials division with LTM Dec’24 revenue of Rs 7,369 crore.

    Tops brings several valuable assets to the table:
    * Diverse portfolio spanning sauces, condiments, meal preparation items, and cooking aids
    * Strong presence in key North Indian markets including Uttar Pradesh, Delhi, Haryana, Bihar, Punjab, Uttarakhand, and Rajasthan

    KPMG India Corporate Finance is serving as exclusive financial advisor to AWL with PricewaterhouseCoopers Services LLP and Cyril Amarchand Mangaldas conducting due diligence and Cyril Amarchand Mangaldas providing legal counsel.

    AWL has demonstrated capability in scaling acquired brands. Amongst its notable successes figure the launch of Alife Soap in 2020 which crossed Rs 100 plus crore in sales within two years. The acquisition of Kohinoor in May 2022 saw it generating Rs 350 plus crore in sales within 18 months. The Hotels, Retail and Catering (HoReCa) team established in Q1 FY23 generated Rs 600 plus  crore in sales within two years. 

    With that kind of a track record, the acquisition can only be a good and taste-filled recipe for success. 
     

  • Honda steers ahead with 50,000 Adas-enabled cars on Indian roads

    Honda steers ahead with 50,000 Adas-enabled cars on Indian roads

    MUMBAI: Honda Cars India has hit the accelerator on safety, crossing the milestone of 50,000 Adas-enabled cars on Indian roads. With its Honda Sensing technology making waves, the company is reaffirming its commitment to a future of accident-free driving aligning with Honda’s global goal of achieving zero traffic collision fatalities by 2050.

    First introduced in India with the Honda City e:Hev in 2022, Honda Sensing has rapidly expanded across the lineup, making its way to the Honda City (2023), the Elevate (2023), and most recently, the Amaze (2024). The third-generation Amaze now holds the title of India’s most affordable Adas-equipped car, bringing advanced driver assistance technology within reach of more customers.

    With safety now a key purchase driver, Adas-equipped variants account for 60 per cent of elevate sales, a whopping 95 per cent of City sales, and 30 per cent of Amaze sales. Among customers choosing ADAS models, half cited safety tech as their top reason for purchase.

    Honda Cars India vice president for marketing & sales Kunal Behl said, “At Honda Cars India, safety is at the core of everything we do. The 50,000 ADAS milestone reflects our commitment to making roads safer while also demonstrating the growing acceptance of advanced safety technology among Indian consumers.”

    In 2023, Honda became the first automaker in India to introduce Adas in manual transmission models, ensuring safety innovation isn’t limited to automatic variants. 

  • Confirmtkt puts passengers on the fast track with travel guarantee

    Confirmtkt puts passengers on the fast track with travel guarantee

    MUMBAI: Train ticket waitlists often leave travellers in limbo, but Confirmtkt has just flipped the script with its latest feature ‘travel guarantee’. Designed to ease the uncertainty of unconfirmed tickets, this game-changing option offers passengers up to three times the fare refund, helping them seamlessly rebook alternative transport, from flights to buses, without breaking the bank.

    Confirmtkt & ixigo Trains CEO Dinesh Kumar Kotha said, “At ConfirmTkt, we aim to make train travel seamless and stress-free. ‘Travel Guarantee’ tackles the uncertainty of waitlisted tickets by offering up to 3x refunds, ensuring travellers can switch to an alternative without the burden of last-minute fare hikes.”

    Peak travel seasons often turn train ticketing into a gamble, forcing passengers to scramble for last-minute options at soaring prices. ‘Travel Guarantee’ ensures that if a waitlisted ticket remains unconfirmed at the time of chart preparation, passengers get a 1x refund to their original payment mode, with the remaining amount credited as a travel coupon 2x for flights/buses and 1x for trains, giving them the flexibility to replan their journey instantly.

  • Cityflo launches in Delhi, aiming to transform corporate travel

    Cityflo launches in Delhi, aiming to transform corporate travel

    MUMBAI: Cityflo has announced its expansion into Delhi to cater to the daily transit needs of corporate professionals. Founded in 2015 by IIT Bombay alumni Jerin Venad, Rushabh Shah, Ankit Agrawal, and Sankalp Kelshikar, Mumbai-based Cityflo offers a luxury bus service as a superior alternative to existing transport options. Having already served over 2.5 million professionals in Mumbai and Hyderabad, the company now seeks to transform commutes in the capital.

    Initially, Cityflo will operate on high-demand routes such as DLF cyber city, ensuring seamless connectivity across major residential hubs in Delhi. The company plans to deploy 100 buses within the first year, targeting over 80,000 customers in DLF cyber city and contributing an estimated Rs 25 crore to its topline revenue this year.

    Cityflo co-founder & CEO, Jerin Venad stated, “Delhi’s commuters struggle with unreliable schedules and poor vehicle conditions, even from global mobility providers. We aim to change that narrative by offering a dependable, comfortable, and seamless travel experience.”

    As part of its Cityflo corporate programme, the company will forge strategic partnerships with many corporates, integrating its services into daily work commutes at scale.Unlike existing options prone to last-minute cancellations, unhygienic conditions, and unpredictable schedules, Cityflo positions itself as a premium and reliable alternative.

    Beyond benefiting individual commuters, Cityflo is also assisting companies in providing employees with a stress-free journey to work. In the coming months, the company plans to rapidly expand its fleet and enter new markets, aiming to become the go-to solution for professionals seeking a high-quality commute.

    Cityflo is backed by marquee investors including Lightbox Ventures, Chiratae Ventures, Anupam Mittal, Alteria Capital, and India Quotient.

     

  • Paytm and RBL Bank band together to supercharge merchant payments

    Paytm and RBL Bank band together to supercharge merchant payments

    MUMBAI: Cash? So last decade. Paytm has joined forces with RBL Bank to make digital payments even smoother, smarter, and—dare we say—unavoidable. With this powerhouse partnership, RBL Bank’s merchant network will now have access to Paytm’s pioneering soundbox and advanced card machines, making transactions faster, easier, and, most importantly, 100 per cent cashless.

    Paytm’s soundbox has already revolutionised in-store payments by offering instant audio confirmations for every transaction. But the innovation doesn’t stop there. The NFC Card Soundbox takes it a step further, allowing tap and pay transactions using debit and credit cards—yes, even for international tourists. Say goodbye to the days of customers fumbling for exact change.

    The Paytm Card Machines (EDC devices) give merchants even more flexibility by accepting UPI, Rupay credit card on UPI, UPI lite, debit cards, credit cards, and even EMI options from leading banks. And in case you were wondering, the soundbox supports 11 languages because, let’s face it, digital payments should be accessible in every tongue.

    Merchants using Paytm’s technology get access to the Paytm for Business Dashboard, a game-changer that allows them to track transactions in real-time and enjoy instant settlements. More transparency. More control. Less waiting around.

    “Our goal is to simplify payments for merchants by providing cutting-edge solutions that enhance efficiency and trust. Partnering with RBL Bank allows us to expand the reach of our pioneering Soundbox and card machines, ensuring businesses of all sizes can accept digital payments with ease. With instant settlements, EMI options, and diverse payment methods, we continue to innovate and support businesses in their digital growth journey,” said Paytm CBO – offline payments Ripunjai Gaur.

    From L to R: Paytm CBO – offline payments Ripunjai Gaur; RBL Bank president & head - branch banking & retail liabilities Narendra Agrawal

    “We are pleased to collaborate with Paytm to offer merchants on our network with advanced and innovative online payment solutions. This partnership aligns with our vision of enabling seamless, secure, and efficient transactions. With innovative offerings like Tap and Pay-enabled NFC Card Soundbox and feature-rich Paytm Card Machines, we are committed to supporting businesses in their digital transformation journey,” said RBL Bank president & head – branch banking & retail liabilities Narendra Agrawal.

    This isn’t just a partnership—it’s a digital revolution for businesses looking to ditch cash and embrace the future of payments. With secure, seamless, and instant payment solutions, merchants across the country can streamline transactions and scale their businesses with confidence.

    So, is cash finally dead? Not yet. But with Paytm and RBL Bank leading the charge, it might just become an endangered species.

  • Good Day campaign brews up a chai-time takeover with headlinesh push

    Good Day campaign brews up a chai-time takeover with headlinesh push

    MUMBAI: You take a sip of hot chai, and like magic, the round shape of a Britannia Good Day biscuit appears in your mind. Sounds familiar? That’s exactly the insight driving Headlines, Britannia’s latest campaign settling the age-old debate of which biscuit pairs best with chai.

    Rather than showcasing the biscuit itself, Headlines plays on a clever visual trick, the way a steaming cup of tea seemingly brings Good Day to mind. This whimsical approach, crafted by Talented.Agency, solidifies Good Day’s place as the ultimate chai companion without even needing to show the product.

    “Britannia Good Day isn’t just a biscuit, it’s an unmissable part of India’s chai ritual,” said Britannia general manager – marketing Archana Balaraman. “This campaign reinforces that connection in a way that’s fun, scalable, and instantly recognisable.”

    The brand has already taken the concept to the streets, launching across IT park food courts, modern trade stores, and the humble chai tapri. Earlier this year, Britannia teamed up with Chai Point at the Maha Kumbh, ensuring lakhs of chai lovers enjoyed their tea with Good Day.

  • Lockton India appoints Rahul Bhatia chief of staff for strategic growth

    Lockton India appoints Rahul Bhatia chief of staff for strategic growth

    MUMBAI: Lockton India locked in a power move as the world’s largest independent insurance broker appointed Rahul Bhatia as chief of staff, a strategic addition to its leadership as it sharpens its focus on business growth, operational efficiency, and strategic excellence.

    With over 17 years of experience spanning wholesale banking and consulting, Bhatia is stepping into this pivotal role with a wealth of expertise in strategy, operations, and financial planning. Translation? He’s got the chops to shake things up.

    Before joining Lockton, Bhatia made his mark at Deloitte and First Abu Dhabi Bank (FAB) India, where he held leadership positions that had him steering strategy, operations, and governance. At Deloitte, he served as operations controller & chief of staff, overseeing key functions across multiple locations. Meanwhile, at FAB India, he played a crucial role in designing and implementing strategies, launching new projects, and reinforcing governance frameworks. Add to that his tenure at RBS India, and you’ve got a resume that screams ‘game changer.’

    As chief of staff, Bhatia will work directly with the CEO, advising on strategic initiatives and ensuring Lockton India’s business vision turns into reality. His mission? To fine-tune operations, optimise financial planning, and drive long-term growth. In short, he’ll be the brains behind the scenes making sure everything runs like a well-oiled machine.

    “Rahul’s vast experience in strategy, financial planning, and corporate advisory makes him a valuable addition to our leadership team,” said Lockton India CEO & country head Sandeep Dadia. “As we continue to scale our presence in India, his expertise will be pivotal in driving operational efficiency and strategic growth initiatives. We are excited to have him on board and look forward to the impact he will bring.”

    Lockton India has been on a mission to expand its presence and strengthen its client service capabilities. Bhatia’s appointment aligns perfectly with the firm’s long-term vision of delivering cutting-edge risk management and insurance solutions to businesses navigating an ever-evolving market. Expect bold moves, strategic pivots, and a whole lot of innovation ahead.

  • Levi’s® signs Diljit Dosanjh, blending denim with global stardom

    Levi’s® signs Diljit Dosanjh, blending denim with global stardom

    MUMBAI: If there’s one thing that stands the test of time, it’s denim. And if there’s one artist redefining music, style, and cinema—it’s Diljit Dosanjh. Now, these two icons unite as Levi’s® proudly welcomes Diljit as its newest global brand ambassador, making history as the first Punjabi artist to join the brand’s star-studded creative family.

    Fresh from his record-breaking ‘Dil-Luminati Tour’ and a groundbreaking Coachella debut, Diljit steps into this partnership with the same effortless cool he brings to his music and fashion. This collaboration isn’t just about style—it’s about legacy. Like Levi’s®, which has been a symbol of self-expression for over 170 years, Diljit has transcended borders, blending Punjabi beats with international appeal. The result? A partnership as timeless as a pair of classic 501 jeans.

    For Diljit, this collaboration is about more than just fashion. “I’ve always admired Levi’s® for the way it blends heritage with modern style,” says the superstar. “Denim is more than just clothing to me—it’s a statement. Partnering with Levi’s® feels like the perfect fit.”

    Levi Strauss & Co. MD & SVP, south Asia, middle east, Africa, and non-EU, Amisha Jain echoes this sentiment, “Diljit Dosanjh perfectly embodies the progressive spirit of Levi’s®. His phenomenal journey aligns with our brand’s spirit of empowering self-expression through music, fashion, and culture. Together, we’re set to create something truly iconic.”

    This partnership highlights Levi’s® expanding menswear range, featuring trend-forward new loose and relaxed fits—a natural extension of Diljit’s signature style. Following the massive success of his ‘Dil-Luminati Tour’ merchandise, this collaboration seamlessly merges music, fashion, and cultural impact.

    As Levi’s® continues redefining what it means to #LiveInLevis, and Diljit continues shattering records, this is only the beginning. Two global icons, one cultural movement—denim has never looked this good.

  • Paytm to provide RBL & its partners digital payment solutions

    Paytm to provide RBL & its partners digital payment solutions

    MUMBAI: Indian fintech giant Paytm has struck a partnership with RBL Bank to provide its signature Soundbox devices and card machines to the bank’s merchant partners, the companies announced today.

    The collaboration aims to boost digital payment adoption across RBL Bank’s merchant network by leveraging Paytm’s technology infrastructure. Merchants will gain access to the Paytm for Business dashboard, enabling real-time transaction monitoring and instant settlement services.

    Paytm’s payment solutions support multiple transaction methods, including UPI, RuPay credit card on UPI, UPI Lite, and traditional debit and credit cards. The systems also offer EMI options from leading banks, providing flexibility for both merchants and customers.

    The company’s Soundbox devices, which revolutionised in-store digital payments with instant audio confirmations, have been expanded to include NFC Card Soundbox technology. This allows customers to make ‘Tap and Pay’ transactions at small shops and supports payments from international tourists using global cards.
    “Our goal is to simplify payments for merchants by providing cutting-edge solutions that enhance efficiency and trust,” said Paytm chief business officer for offline payments Ripunjai Gaur.

    RBL Bank head of branch banking and retail liabilities Narendra Agrawal added: “This partnership aligns with our vision of enabling seamless, secure, and efficient transactions. We are committed to supporting businesses in their digital transformation journey.”

    Paytm has been expanding its service offerings with user-centric innovations, including UPI Lite for small-value transactions and international UPI payments in countries where UPI is accepted, such as the UAE, Singapore, France, and several neighbouring nations.

  • Som Distilleries to establish Rs 600 crore facility in Uttar Pradesh

    Som Distilleries to establish Rs 600 crore facility in Uttar Pradesh

    MUMBAI: Som Distilleries and Breweries Ltd has announced plans for a significant expansion into Uttar Pradesh through its subsidiary, Woodpecker Greenagri Nutrients Pvt Ltd.

    The company will invest approximately Rs 600 crores  to develop a greenfield project in Khimsepur, Farrukhabad district. The integrated facility will include a brewery, distillery, and additional manufacturing operations.

    The Uttar Pradesh State Industrial Development Authority (UPSIDA) has allocated a 40-acre land parcel for the project. Construction is expected to commence following regulatory approvals from the state government.
    In a disclosure to stock exchanges, the company noted that this expansion into Uttar Pradesh—India’s most populous state—represents a strategic move to establish a truly nationwide presence. The company cited the state’s size, demographics, and business-friendly industrial policies as key factors behind the investment decision.

    Som Distilleries, known for brands including Hunter beer and Black Fort whisky, has historically maintained a strong presence in central India. This new facility marks its most significant expansion into northern India to date.