The reported buyout of Bisleri International, a trademark known for its packaged water, by Tata Consumer Products, a Rs 12,425 crore commodity, for Rs 7,000 crore, brings forth key strategic benefits. In one stroke, it fits in well with the existing quencher business of the buyer.
Veteran industrialist Ramesh Chauhan on Thursday said he is scouting for a buyer for his packaged water business Bisleri International and is in talks with several players, including Tata Consumer Products Ltd. However, the 82-year-old pioneer of the Indian packaged water business denied a report that a ₹ 7,000 crore deal has been finalized with Tata Consumer Products Ltd (TCPL).
When asked if he is selling his Bisleri Business, Ramesh Chauhan answered in the affirmative. “Yes. We are,” he told PTI. However, he also added that the group is in discussions with several prospective buyers.
When asked about the report that he has agreed to sell his business to the Tata Group firm, Chauhan, Chairman of Bisleri International said, “It’s not correct… We are still discussing.” When asked about the reasons for the sale of Bisleri’s business, the octogenarian business leader said someone had to handle it and look into it.
His daughter Jayanti is not interested in handling the business, Chauhan added.
Later in a media statement, Bisleri International Spokesperson said: “We are currently in discussion and cannot disclose further.” Three decades ago Chauhans sold their soft drinks business to the US beverage major The Coca-Cola Company. He transferred brands such as Thums Up, Gold Spot, Citra, Maaza, and Limca in 1993 to the Atlanta-headquartered firm. Of these brands, Thums Up has already become a billion-dollar brand and Coca-Cola expects fruit drinks brand Maaza also to be a billion-dollar brand by 2024.