The Relationship Between Wilmar and Adani

Formation of the Joint Venture

Wilmar International, a Singapore-based agribusiness group, and the Adani Group, a diversified Indian conglomerate, established a 50:50 joint venture in January 1999. The partnership combined Adani’s strong domestic market presence and logistics expertise with Wilmar’s global sourcing capabilities and technical know-how.

The joint venture played a key role in shaping India’s edible oil industry, becoming a market leader. Fortune, one of its most recognised brands, contributed significantly to this success.

Adani’s Exit from the Joint Venture

On December 30, 2024, Adani Enterprises announced its decision to sell its entire 44% stake in Adani Wilmar Limited in a deal worth approximately $2 billion.

• 31% of the stake was acquired by Wilmar International, increasing its control over the business.
• The remaining 13% was sold in the open market to comply with regulatory requirements.

This marked Adani’s complete exit from the joint venture, allowing Wilmar to take a more dominant role in managing the company.

Wilmar’s Growing Stake in the Business

With Adani’s departure, Wilmar International now holds a majority stake, consolidating its leadership in the edible oil sector. While the company continues to benefit from Adani’s established logistics network in India, Wilmar’s global expertise is expected to drive its future growth.

The restructuring has not impacted the operational strength of the business, as Wilmar remains committed to expanding its presence in India’s edible oil market.

Conclusion

The partnership between Adani and Wilmar played a key role in shaping India’s edible oil industry. With Adani Enterprises fully exiting the joint venture in December 2024, Wilmar International now assumes full control, strengthening its position in the market. Despite this ownership shift, the business remains well-positioned, continuing to leverage its strong distribution network and brand presence in India.

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