Negotiations between Tata Consumer and Bisleri on a deal for a majority stake have stalled, Bloomberg reported. This deal, which was first reported in August last year, is said to be stalled now over valuation.
“Tata Consumer Products Ltd. (TCPL) evaluates various strategic opportunities for growth and expansion of the business of the Company, on an ongoing basis. TCPL remains in discussions with various parties, including Bisleri International Private Limited. The company will make appropriate announcements/disclosures as and when any such requirement arises. At this point in time, there is no further information to be provided with respect to this," Tata Consumer said exclusively to CNBC-TV18 when contacted for a reaction.
As per the information, Bisleri’s owners were looking to raise about $1 billion from a deal. The Bloomberg report further added that discussions between Tata and Bisleri could still resume and other potential suitors may emerge.
Media reports have suggested that the Tata group intends to scale up the business of Bisleri International through its strategic investment. Tata Consumers has already marked their presence in the bottled-water sector with NourishCo.
Bisleri remains one of the biggest players in the sector with over 150 manufacturing plants and 4,000 distributors. Bisleri traces its root when Jayantilal Chauhan, who founded soft drinks maker Parle Group in 1949, acquired the mineral bottle maker from an Italian entrepreneur in 1969. Bisleri is said to have a 60 percent share in India’s bottled mineral water market.
Apart from its famous packaged mineral water, Bisleri also sells Himalayan spring water under the brand Vedica. The company also manufactures products in the fizzy drinks and hand sanitizer.
First Published: Mar 1, 2023 10:55 AM IST
