The multinational conglomerate, Tata Group, has reportedly made an offer to buy stake in the bottled water company Bisleri International. Reports have surfaced that the conglomerate intends to scale up the business, however official confirmation from either of the companies is awaited.
The shares of Tata Consumer Products rose as much as 1.7 percent on the news. The stock was trading 0.96 percent higher at Rs 924.65 on BSE at the time of writing.
In the post earnings call, Tata Consumer's chief executive Sunil D'Souza had said that the company is exploring strategic acquisitions. Tata Consumers mark their presence in the bottled-water sector with NourishCo, but Bisleri remains one of the biggest players in the sector with over 150 manufacturing plants and 4,000 distributors.
Apart from mineral water, Bisleri also sells Himalayan spring water under the brand Vedica. The company also manufacturers and markets products in fizzy drinks and hand purifier sectors.
On a previous occasion, Ramesh Chauhan, chairman of Bisleri International had said if he sells a stake in the company, it would be to an India who will promote and develop the brand.
Tata Consumer Products forayed into the health supplement segment under a new brand 'Tata GoFit'. Under Tata GoFit, the company has launched plant-based protein powder for women.
Deepika Bhan, President - Packaged Foods (India), Tata Consumer Products said, “Tata GoFit has been specially developed for women and has an innovative and differentiated formulation with digestion-friendly enzymes and gut-friendly probiotics. We believe Tata Consumer Products is well positioned to unlock the market potential of the plant protein powder segment and to lead the charge in addressing evolving consumer needs.”
The company had also recently forayed into the plant-based meat product under the brand 'Tata Simply Better'.
First Published: Sept 12, 2022 12:18 PM IST
