Brands
Adani Wilmar buys Kohinoor brand
Mumbai: Adani Wilmar Ltd announced the acquisition of several brands including Kohinoor brand – domestic (India region) from McCormick Switzerland GMBH for an undisclosed amount. The acquisition will give Adani Wilmar exclusive rights over the brand Kohinoor basmati rice along with ‘ready to cook’ and ‘ready to eat’ curries and meals portfolio under the Kohinoor brand umbrella in India.
“The addition of Kohinoor’s domestic brand portfolio strengthens Adani Wilmar’s leadership position in the food FMCG category by augmenting a strong product basket with premium brands along with potential to scale value added products,” said the statement. “It also leverages the reach of Kohinoor brand to drive synergies for Adani Wilmar across geographies and complements the reach of its flagship brand ‘Fortune’ in the food FMCG domain.”
“The acquisition will fuel the next level of growth to Adani Wilmar and widen the portfolio to cater to premium customer segments across rice and other value-added food businesses,” it added.
The Kohinoor brand portfolio comprises ‘Kohinoor’ for premium Basmati rice, ‘Charminar’ for affordable rice and ‘Trophy’ for HORECA (Hotel/Restaurant/Catering) segment.
“Adani Wilmar is pleased to welcome the Kohinoor brand to the Fortune family,” said Adani Wilmar managing director and chief executive officer Angshu Mallick. “Kohinoor is a trusted brand which represents the authentic flavours of India and is loved by consumers. This acquisition is in sync with our business strategy to expand our portfolio in the higher margin branded staples and food products segment. We believe the packaged food category is under-penetrated with significant headroom for growth. The Kohinoor Brand has a strong brand recall and will help accelerate our leadership position in the Food FMCG category.”
Brands
UK’s OnlyFans seeks US investor at $3bn valuation after owner’s death
The adult video platform is seeking stability after the death of its billionaire owner
LONDON: OnlyFans is looking for a new partner. The London-based adult video platform is in advanced talks to sell a minority stake of less than 20 per cent to Architect Capital, a San Francisco-based investment firm, in a deal that would value the business at more than $3bn (£2.2bn).
The move is driven by an urgent need for stability. Leonid Radvinsky, the Ukrainian-American billionaire who owned OnlyFans, died of cancer last month at the age of 43, leaving the future of one of Britain’s most profitable privately held businesses suddenly uncertain.
The choice of Architect Capital is not arbitrary. The firm has deep expertise in financial services, which aligns neatly with OnlyFans’ ambitions to offer banking products to its creators, many of whom have long struggled to access basic financial services because of the nature of their work.
The numbers behind OnlyFans are, by any measure, staggering. The platform posted revenues of $1.4bn in the year to 30th November 2024, with a pre-tax profit of $684m, up four per cent on the prior year. Payments to creators totalled $7.2bn over the same period, a rise of nearly ten per cent. Radvinsky personally collected $701m in dividends from the business in 2024 alone, on top of more than $1bn in such payments he had already received. The platform, run through its parent company Felix International, hosts 4.6m creator accounts, with performers keeping 80 per cent of subscription proceeds and the platform pocketing the remaining 20 per cent. It has 377m fan accounts in total.
The current minority stake talks represent a notable scaling back of ambitions. In January, OnlyFans was reported to be in discussions with Architect about selling a majority stake of 60 per cent. Before that, the company had explored a sale to a consortium led by Forest Road Company, a Los Angeles-based investment firm. Neither deal materialised.
OnlyFans has built an enormously lucrative business on content that mainstream finance has long refused to touch. Now, with its owner gone and a $3bn valuation on the table, it is looking for the kind of respectable institutional backing that might finally persuade the banks to take its calls.
