Tata Consumer to acquire Bisleri
The largest packaged drinking water manufacturer in India, Bisleri, will be acquired by Tata Consumer for approximately Rs 6,000–7,000 crore. Thirty years after selling the soft drink brands Thums Up, Gold Spot, and Limca to Coca-Cola, Chairman Ramesh Chauhan plans to divest Bisleri International to Tata Consumer Products.
The current management will remain in place for another two years as part of the agreement, according to The Economic Times. In addition to Jayanti’s lack of interest in the company, Chauhan’s poor health is forcing him to sell the business. He acknowledged that the decision to sell Bisleri was difficult, but he is confident in the Tata Group’s ability to care for it “much better.”
Other parties, including Reliance Retail, Nestle, and Danone, have shown interest. According to the article, Tata and Chauhan have been in negotiations for the past two years. But Chauhan changed his mind after meeting N Chandrasekaran, chairman of Tata Sons, and Sunil D’Souza, CEO of Tata Consumer. “I enjoy them. He allegedly said, “They are decent folks.
As he won’t be in charge any more, Chauhan does not see the benefit of maintaining a minority ownership in the business. Instead, he intends to spend in charity and environmental projects.
He claimed he had no idea what he would do with the cash. According to Chauhan, the issue wasn’t the value of the firm but rather finding the best location for it.
The professional staff under the direction of CEO Angelo George leads the day-to-day management team.
The Chauhans purchased the Italian-born Bisleri company in 1969. The corporation operates 122 facilities around the nation.