The FMCG arm of the Tata Group, with headquarters in Kolkata, has informed exchanges that talks for a prospective investment in Bisleri have come to an end. Ramesh Chauhan, chairman of Bisleri International, reportedly planned to sell the business in November of last year and was in negotiations with Tata Consumer Products for an anticipated buyout of ₹6,000–7,000 crores.
In a filing to the stock exchange, the giant-company stated, “In this regard, the Company wishes to update that it has now ceased negotiations with Bisleri with regard to a potential acquisition and to reaffirm that the Company has not made any binding commitments or engaged into any final agreements with respect to this topic.
Everything you need to know about Tata-Bisleri Deal!
The name Bisleri refers to the biggest bottled water company in India. According to reports, Chauhan, who is 82 years old, does not have a successor who can lead Bisleri to the next stage of growth. Chauhan stated that he thought the Group “would nurture and take care of it even better” in an interview with ET last year, despite the fact that it was still a difficult choice for him.
Notwithstanding the animosity displayed by other interested bidders, he added, “I made up my mind because I admire the Tata culture of principles and integrity. Reliance Retail, Nestlé, and Danone are just a few of the buyers that have been mentioned in publications at various points in time.
Apparently, Bisleri and the giant have been in communication for more than 2 years. Even N Chandrasekaran, chairman of Tata Sons, and Sunil D’Souza, CEO of Tata Consumer, had a meeting with Chauhan. Under the Himalayan brand, Tata Consumer Products currently distributes bottled mineral water under the names Tata Copper Plus Water, Tata Gluco Plus, Himalayan Sparking, and Himalayan Still water. Felice Bisleri invented Bisleri in the 19th century, which was initially an Italian alcohol cure beverage.
By establishing a facility in Thane, the Italian physician Cesari Rossi and the Indian businessman Khushroo Suntook brought Bisleri bottled water to India in 1965. The faltering Bisleri brand was later acquired by the corporation in 1969. In addition to 150 operational units, Bisleri maintains a network of 6,000 distributors and 7,500 vehicles spread throughout India and its neighbors.