According to a media report, Tata Consumer Products Ltd (TCPL) has withdrawn from the acquisition process of Bisleri.
Bisleri International Chairman Ramesh Chauhan’s daughter Jayanti Chauhan will run the company. She will steer the company with the professional team headed by CEO Angelo George.
Currently, Jayanti is the Vice Chairperson. She has been involved in the company’s business for several years. She has been working on expanding Bisleri’s Vedika brand.
Earlier, The company’s Chairman Ramesh Chauhan was 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. As per the earlier reports, the company’s current management will continue for two years as part of the deal.
Tata Consumer Products Ltd, part of Tata Group was set to acquire Bisleri International for up to Rs. 7000 crores. However, the deal was later called off by Tata Consumer due to “indecisiveness,” ET reported on March 18. There were no differences in valuation, as per the report.
Additionally, the reports have suggested that the current Bisleri CEO George has refused to speak on news reports around the company’s deal talks with Tatas. He would not like to comment on ‘market speculations’.
“The company wishes to update that it has now ceased negotiations with Bisleri with regard to a potential transaction and to confirm that the company has not entered into any definitive agreement or binding commitment on this matter,” the company said.
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, the company 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
