After nearly three decades of selling soft drink brands Thums Up, Gold Spot Limca, Coca-Cola, Ramesh Chauhan has bought Tata Consumer Products Ltd (TCPL) for an estimated Rs. Bisleri International is being sold for Rs 6,000 to Rs 7,000 crore. Under the deal, the existing management will continue for two years. The 82-year-old Chauhan is not in good health and says that bisleri He has no successor to take him to the next level of expansion. Chauhan said that daughter Jayanti is not much interested in business. Bisleri is the largest packaged water company in India.
Bisleri was an Italian brand before 1969
Chouhan said that the Tata group will develop and maintain it in a better way. However, the sale of Bisleri was still a painful decision. However, several companies including Reliance Retail, Nestle and Danone tried to take over Bisleri. Tata was in talks for two years and made up its mind a few months ago after meeting Tata Sons Chairman N Chandrasekaran and Tata Consumer CEO Sunil D’Souza. Bisleri was originally an Italian brand that started doing business in India in 1965 in Mumbai. Chauhan acquired it in 1969. The company has 122 operational plants and a network of 4,500 distributors and 5,000 trucks in India and neighboring countries.
there will be no minority stake
According to a report, Tata Group had made an offer for Bisleri on 12 September. After selling the business, Chauhan sees no point in retaining a minority stake. He said what will I do with it when I am not running the show? After exiting the bottled water business, Chauhan intends to refocus and invest in environmental and charitable causes such as water harvesting, plastic recycling and helping the poor receive medical treatment.
Tata will become number one
Coca-Cola bought the entire portfolio from Chauhan and his brother Prakash in 1993. This included brands such as Citra, Rimzim and Maza. Tata Consumer is aggressive in the fast-moving consumer goods (FMCG) space and aims to be among the top three in this segment. It also sells packaged mineral water under the Himalayan brand as well as Tata Copper Plus Water and Tata Gluco+. By acquiring Bisleri, it will reach number 1 in this segment.