Tata Consumer Products ceases talks with Bisleri for a potential acquisition
- Last November,
BisleriInternational’s chairman Ramesh Chauhan said that they were in talks with Tata Consumer Products for a possible stake sale.
- Bisleri has been in talks with Tata Group for more than two years.
- Chauhan had even met
Tata Sons chairman N Chandrasekaranand Tata Consumer CEO Sunil D'Souza.
- There have been reports of several buyers at different times, including Reliance Retail, Nestle and Danone.
AdvertisementTata Consumer Products, the Kolkata based FMCG wing of the Tata Group, has informed exchanges that it has ceased negotiations with Bisleri for a potential stake in the company.
Last November, an Economic Times report said that Bisleri International’s chairman Ramesh Chauhan was planning to divest the company and was in talks with Tata Consumer Products for an estimated buyout of ₹6,000-7,000 crore.
“In this regard, 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,” said Tata Consumer Products in an exchange filing.
Bisleri is India's largest packaged water company. Reports also said that Chauhan, aged 82, does not have a successor to take Bisleri to the next level of expansion.
In an interview to ET last year, Chauhan had said that he believed the Tata Group "will nurture and take care of it even better," while it was still a painful decision for him. "I like the Tata culture of values and integrity and hence made up my mind despite the aggression shown by other interested buyers," he said.
There have been reports of several buyers at different times, including Reliance Retail, Nestle and Danone.
As per reports, Bisleri has been in talks with Tata Group for more than two years. Chauhan had even met Tata Sons chairman N Chandrasekaran and Tata Consumer CEO Sunil D'Souza.
Currently, Tata Consumer Products sells packaged mineral water under the Himalayan brand with products — Tata Copper Plus Water, Tata Gluco plus, Himalayan Sparking, Himalayan Still water.
Bisleri was originally an Italian alcohol remedy drink created by 19th century inventor Felice Bisleri. In 1965, Italian doctor Cesari Rossi and Indian businessman Khushroo Suntook introduced Bisleri bottled water in India by setting up a factory in Thane. Later the companyacquired the struggling Bisleri brand in 1969.
Bisleri has 150 operational plants and a network of 6,000 distributors and 7,500 trucks across India and neighbouring countries.
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