Indian-made foreign Liquor (IMFL) manufacturers Tilaknagar Industries has announced a strategic investment of ₹8 crore, through a mix of primary investment and secondary acquisition, to own a minority stake in Round the Cocktails Private Limited, the makers of the ‘ready-to-pour’ premium mixer brand Bartisans.

Post this investment, Tilaknagar Industries will hold a 36.17 per cent share of the equity share capital on a fully diluted basis. The founders of Bartisans will continue to own a 56.54 per cent share of the equity share capital on a fully diluted basis, with the balance being the pool created for the Employee Stock Ownership Plan (ESOP).

Once Bartisans achieves certain pre-agreed milestones, the definitive agreements provide an option for Tilaknagar Industries to invest or acquire further shares held by other shareholders per a pre-determined valuation methodology.

Bartisans, founded in 2021, is a cocktail mixer brand with 17 flavours. The start-up achieved a revenue of ₹3.5 crore in FY24, having delivered orders across more than 70 Indian cities.

Amit Dahanukar, Chairman and Managing Director of Tilaknagar Industries, said, “Our investment is driven by the emergence of a booming cocktail culture in India, paired with the growing trend of ‘at-home’ drinking in a convenient setting. Through this association, we also see strong synergies with our existing premium brandy and our soon-to-be-launched luxury portfolio. We look forward to working closely with Bartisans for co-creating innovative cocktail mixers for brandy.”

Tilaknagar Industries will invest through a combination of primary investment and secondary acquisition of shares. The company will infuse ₹3 crore as a primary investment and ₹5 crore towards the secondary acquisition of shares from existing shareholders. The funds will be used for growth and marketing initiatives and to further strengthen the distribution of Bartisans’ products. As per the agreement, TI will also have the right to nominate a director on the board of Bartisans.

The ‘Ready to Pour’ mixer industry in India will touch ₹7,000 crore or $830 million by 2030. In 2023, the Global Cocktail Mixers market size was estimated at $10 billion, which is expected to grow by 9 per cent CAGR to $21 billion by 2031.

Jovita Mascarenhas, Co-Founder of Round the Cocktails Private Limited, said, “Tilaknagar Industries’ expertise in the alco-bev sector coupled with our vision for innovative cocktail experiences creates an exciting opportunity to scale Bartisans to new heights. We are confident that this partnership will elevate our brand and expand our reach across the market.”

The investment in Bartisans will be funded through Tilaknagar Industries’ internal cash resources.

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