NEW DELHI: Tata Consumer Products Limited (TPCL) is all set to acquire Bisleri International, the Economic Times reported on Thursday, citing the packaged water maker’s chairman Ramesh Chauhan.
The deal is estimated to be somewhere in the range of Rs 6,000 crore to Rs 7,000 crore, the report said.
Talks were on between the two companies over an acquisition deal for quite some time now. In September, PTI had quoted a source saying that the deal was in preliminary stage.
Led by Ramesh Chauchan, Bisleri has been a market leader in the packaged water segment since many years. Several companies including Coca-Cola India through its brand Kinley, PepsiCo’s Aquafina, Bailley from Parle Agro and Indian Railway Catering and Tourism Corporation (IRCTC)’s Rail Neer compete in the segment but they all trail Bisleri.
The firm also has its presence in fizzy drinks with brands like Spicy, Limonata, Fonzo and PinaColada.
Chauhan has also created various super brands such as ThumsUp, Gold Spot, Maaza and Limca, which was acquired by the Coca-Cola Company in 1993 when the Atlanta-headquartered company had re-entered the Indian market.
Meanwhile, TCPL has been formed after merging the consumer products business of Tata Chemicals with Tata Global Beverages, aspires to be a formidable player in the FMCG category, by expanding its play into the existing category and venturing into new areas.
In its latest annual report, TCPL said “with strong product innovation, investment in strengthening our brands and strategic acquisitions, we are well on track in our journey to become a leading FMCG company”.
(With inputs from agencies)