edited by: Mohammad Haris
Last Update: March 01, 2023, 11:30 AM IST
Bisleri was started as an Italian brand in Mumbai in 1965, which was later acquired by the Chauhans in 1969.
Bisleri owners were looking to raise around $1 billion from a deal
Tata Group’s talks to acquire a majority stake in India’s leading packaged water company Bisleri International have stalled over valuation. Bloomberg Reports attributed to people familiar with the matter. It added that the group was in advanced stages of talks to take control of Bisleri.
Bisleri owners were looking to raise around $1 billion from a deal Bloomberg Report. It said later the companies could not agree on the valuation. The report added that talks may resume and other potential contenders may emerge.
According to reports in November 2022, Tata Consumer Products Limited was buying Bisleri for around Rs 6,000-7,000 crore. Ramesh Chauhan, who is the chairman of Bisleri International, has no successor to take Bisleri to the next level of expansion.
Three decades ago, Chauhan also sold soft drink brands Thums Up, Limca and Gold Spot. The existing management will remain in place for two years under the Bisleri-TCPL deal, the ET report said. Talks are going on with Tata for the last two years.
Bisleri expects a turnover of Rs 2,500 crore in 2022-23 with a profit of Rs 220 crore.
The Tata group already sells packaged mineral water under the Himalayan brand as well as Tata Copper Plus Water and Tata Gluco+. After the acquisition of Bisleri, it will become the top player in this segment.
In 1993, Coca-Cola bought the entire portfolio of aerated drinks from Chauhan and his brother Prakash. These include Thums Up, Limca, Citra, Rimzim and Maaza.
Bisleri was started as an Italian brand in Mumbai in 1965, which was later acquired by the Chauhans in 1969. Presently, it has more than 122 operational plants and 4,500 distributors. India and its neighboring countries.
Earlier Chauhan had quoted at Saying that the Tata group would nurture and take care of it even better, though selling Bisleri was still a painful decision. “I like the Tata culture of values and integrity and hence, despite the aggression shown by other interested buyers, I made up my mind.”
He said, ‘I don’t even know what I will do with it (money), but let me make it clear. It wasn’t just the value I was getting for it, I was more eager to find a home that would take care of it like I would. It is a business that I have built with passion and is now run by equally passionate employees,” said Chauhan.
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