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Tata Consumer Products Ltd (TCPL) will reportedly acquire Bisleri International for an estimated Rs 6,000-7,000 crore. Ramesh Chauhan, chairman of Bisleri International, does not have a successor to take Bisleri to the next level, according to a report in the Economic Times (ET). He has earlier sold brands like Thums Up, Gold Spot, and Limca to Coca-Cola.
Bisleri, which is India's largest packaged water company, is expected to have a turnover of Rs 2,500 crore with a profit of Rs 220 crore in FY23.
Although selling Bisleri is a "painful" decision, the Tata Group will "nurture and take care of it even better", Chauhan told ET.
"I like the Tata culture of values and integrity and hence made up my mind despite the aggression shown by other interested buyers," he added.
Chauhan will not hold a minority stake in the business. He would refocus and invest in environmental and charitable causes like water harvesting, and plastic recycling.
In 1993, Coca-Cola bought the entire portfolio from Chauhan and his brother Prakash, according to ET. Apart from Thums Up and Limca, it included brands like Citra, RimZim and Maaza. TCPL sells packaged mineral water under the brand name Himalayan and Tata Copper Plus.
"Even I don't know what I will do with it (the money) but let me make it clear. It was not just the value I am getting for it, I was more anxious to find a home that would look after it as I did. This is a business I have built with passion and it is now run by equally passionate employees," Chauhan added.
In 1965, Bisleri was started in Mumbai as an Italian Brand. The Chauhans acquired the company in 1969. Currently, it has over 122 operational plants and 4,500 distributors across India and its neighbouring countries.
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First Published: Thu, November 24 2022. 09:37 IST