Acquisition talks between Tata Group’s FMCG arm Tata Consumer Products Limited (TCPL) and packaged water maker Bisleri International have come to a halt.
TCPL said it has not entered into any agreement to acquire Bisleri. Significantly, for a long time Bisleri International was preparing to be sold and was looking for a buyer for itself. Tata Consumer Products was coming up as a potential buyer and was involved in discussions with various parties.
TCPL said, “The company wishes to inform that it has ceased talks with Bisleri regarding a possible transaction and confirms that the company has not entered into any definitive agreement on the matter.
Bisleri International Chairman Ramesh Chauhan had said that he is looking for a buyer for its packaged water business Bisleri International and is in talks with several players including TCPL.
TCPL already has the product
For information, let us tell you that TCPL is already present in the bottled water segment with its brand Himalayan. Apart from this, it is also present in the hydration segment with Tata Copper Plus Water and Tata Gluco. Thus, this tie-up would propel TCPL to the top position in the rapidly growing bottled water marketing industry.
It was being claimed that Tata Consumer Products Limited is about to buy Bisleri for an estimated Rs 6,000-7,000 crore and the talks are still in the initial stages.
Ramesh Chauhan’s old age and poor health are being held responsible for selling Bisleri. Moreover, his daughter Jayanti is not interested in taking over the business. After this it has been decided to sell it.
