Bisleri was started as an Italian brand in Mumbai in 1965, which was later acquired by the Chauhans in 1969.
Tata Consumer Products also says that it has not entered into any definite agreement or binding commitment on the matter
Tata Consumer Products Limited (TCPL) on Friday said it has ended talks with Bisleri regarding a possible acquisition deal. It also said that Tata has not entered into any definitive agreement or binding commitment on the matter.
Tata Consumer Products Limited said in a regulatory filing, “The company wishes to update that it has ceased negotiations with Bisleri regarding a potential transaction and to confirm that the company has not entered into any definitive agreements or binding agreements on the matter.” Haven’t made a commitment.” ,
According to reports, the Tata group company was in talks to buy the packaged water giant from November 2022 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.
However, later, media reports stated that the companies could not agree on a valuation and talks broke down. Bloomberg had earlier reported that the owners of Bisleri are looking to raise about $1 billion from a deal.
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. Currently, it has more than 122 operational plants and 4,500 distributors in India and its neighboring countries.
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