Tata Consumer
In a regulatory filing, Tata Consumer said it “has not entered into any agreement or any objection in this regard.” Tata Consumer Products Limited (TCPL) confirmed the change on March 17 that it has ended all negotiations on bottled drinking water.
Bisleri brand for its acquisition and the deal is believed to be around Rs 6,000-Rs 7,000 crore.
In a regulatory filing, Tata Consumer said: “The company would like to update the fact that it has ended its discussions with Bisleri about a possible transaction and has indicated that it has not entered into any agreement or firm commitment. in this case. subject.
The development of TCPL’s acquisition of Bisleri was first reported by the Economic Times last year in Nov. 24, where he said that Bisleri chairman Ramesh Chauhan, 82, had been in poor health in recent years. time says no one can replace him. to take Bisleri to the next level of expansion. At the same time, CNBC-TV 18 reported that in a major reshuffle, Chauhan has reportedly decided to hand over the brand to Tata Consumer. Chauhan said about the acquisition plan.
However, reflecting on his words, he seems reluctant to make such a critical statement.The 82-year-old industrialist managed by Bisleri International works alongside the Bisleri brand and Vedica water. It is also available in soft drinks with varieties – Spyci, Limonata, Fonzo and PinaColada.
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Chauhan also created various brands like ThumsUp, Gold Spot, Maaza and Limca, which were acquired by the Coca-Cola Company in 1993 when the Atlanta company re-entered the Indian market. The Tata group has its consumer stores under Tata Consumer Products Ltd (TCPL) which also sells mineral water under the Himalayan brand and brands like Tata Copper Plus Water and Tata Gluco+ in the hydration segment.
TCPL, which was formed after the divestment of Tata Chemicals and Tata Global Beverages, aims to be a player in the FMCG sector, expanding its game in existing formats and entering new areas. In its latest annual report, TCPL said that “through strong product development, investment in brand development and strategic purchasing, we are well on our way to becoming a leading FMCG company”.
Meanwhile, shares of TCPL on March 17 closed up 2.05% at Rs 708 each on the BSE.
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