Ramesh Chauhan To Sell Bisleri To Tata Group For Rs 7,000 Crore
Ramesh Chauhan To Now Sell Bisleri To Tata Group For Rs 7,000 Crore
For an estimated Rs 6,000 to Rs 7,000 crore, the chairman of Bisleri International is intends to sell the nation's largest packaged drinking water business to Tata Consumer Products Ltd (TCPL), the FMCG division of the Tata group. In 1993, beverage tycoon Coca-Cola purchased the soft drink brands Thums Up, Gold Spot, and Limca from the 82-year-old Ramesh Chauhan. It has been nearly 30 years since that transaction.
With a gain of more than 2.5% in early trade, Tata Consumer led all Nifty50 stocks today. The consumer division of the Tata Group is housed under Tata Consumer Products Ltd (TCPL), which also sells bottled mineral water under the Himalayan brand as well as brands like Tata Copper Plus Water and Tata Gluco in the hydration category.
According to a report from market research and advisory TechSci Research, the Indian bottled water industry was valued at over USD 2.43 billion (about 19,315 crore) in FY2021. According to the report, it is anticipated to develop at a CAGR of 13.25 percent due to rising disposable income, rising health and hygiene awareness, and rising product innovation.
Although selling Bisleri was still a "painful" decision, the Tata Group "will nurture and take care of it even better," Bisleri's chairman Chauhan stated. "Despite the animosity displayed by other interested buyers, I made up my decision because I respect the ideals and integrity of the Tata culture."
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