According to the Economic Times report, Tata Consumer Products Ltd, part of Tata Group is all set to acquire Bisleri International for up to Rs. 7000 crores.
The company’s Chairman Ramesh Chauhan is planning to disinvest Bisleri International to Tata Consumer Products three decades after selling soft drink brands Thums Up, Gold Spot, and Limca to Coca-Cola.
According to reports, the company’s current management will continue for two years as part of the deal. However, Tata Consumer Products did not comment on Reuters’ requests on the development.
82 years, Chairman Ramesh Chauhan’s ill health and his daughter Jayanti’s lack of interest in the business is driving him to sell off the company. Selling Bisleri was a painful decision, he said, but believes that the Tata Group will take ‘even better’ care of it.
“I like the Tata culture of values and integrity and hence made up my mind despite the aggression shown by other interested buyers like Reliance Retail, Nestle, and Danone.” he added.
Bisleri International is an Indian company incorporated in 1984 by Jayantilal Chauhan. It is best known for the eponymous brand of bottled water, which was introduced in 1965 as a soda brand by Felice Bisleri.
Originally an Italian brand, Bisleri was acquired by the Chauhans (Parle Exports) in 1969. The company sells bottled water and soft drinks. It has 122 operational plants in the country.
Chauhan has also created various super brands such as ThumsUp, Gold Spot, Maaza, and Limca, which was acquired by the Coca-Cola Company in 1993 when the Atlanta-headquartered company had re-entered the Indian market.
Currently, Angelo George is the CEO of Bisleri International. He joined Bisleri in June 2019
