Bisleri International on Thursday said it is in talks with the prospective buyers, including Tata Consumer Products for divestment of a majority stake in the company. Meanwhile, Tata Consumer Products in a regulatory filing also stated that it is in discussion with Bisleri International for strategic opportunities.
Ramesh Chauhan, Chairman, Bisleri International, told businessline that the company is looking at selling “part stake” in the company while continuing to “hold a minority stake”. He said the company was in discussions with several potential buyers, including Tata Consumer Products and the deal has not yet been finalised. He did not comment on the valuations or reveal the names of other prospective buyers.
The company in a statement further added, “ We are currently in discussions and cannot disclose further.
In a regulatory filing, Tata Consumer Products said that the company evaluates various strategic opportunities for growth and expansion of the business of the company, on an ongoing basis. “Pursuant to this, the management of the company remains in discussions with various parties, including Bisleri International Private Limited,” while adding that it would make appropriate announcements in compliance with the regulations as and when any such requirement arises.
Chauhan, is known for successfully launching brands such as Thums Up, Limca, Gold Spot and Maaza, which were sold to beverage major Coca-Cola about three decades ago. Thums Up became a billion-dollar brand, the first in Coca-Cola India’s portfolio, in 2021.
Tata Consumer Products has been actively looking at inorganic growth opportunities to strengthen its presence in the packaged food and beverage space. It has a presence in the packaged water segment through its brand Himalayan and Tata Gluco Plus.
Bisleri International, the leading packaged water player in the country, operates through a wide distribution network of nearly 4,000 distributors and a network of owned and franchise plants. Besides packaged water brands Bisleri mineral water and Vedica Himalyan Spring Water, the company’s portfolio includes other drinks including Limonata, Spyci and Fonzo. It also operates its direct D2C e-commerce platform.