Ramesh Chauhan Says Talks On With Tata Consumer For Bisleri Sale
Ramesh Chauhan says the talks should be over by the end of the year.
Bisleri International Pvt. is looking to sell a stake to Tata Consumer Products Ltd., according to Ramesh Chauhan.
"We are in talks with Tata about selling a stake," Chauhan, chairman of the company, told BQ Prime over the phone, adding that whether it will be a strategic stake sale is part of the discussion.
Chauhan, who owns the private beverage company, said the talks should be over by the end of the year. He did not specify the terms or nature of the deal.
Bisleri, synonymous with bottled water in India, has ventured into the premium natural mineral water segment, under the Vedica.
Parle Exports bought Bisleri from an Italian entrepreneur in 1969 and began to sell mineral water in India through this brand.
Chauhan has created various brands, such as Thums Up, Gold Spot, Citra, Maaza and Limca.
Coca-Cola acquired these brands, including Thums Up, in 1993 from Ramesh Chauhan's Parle. Thums Up is today one of the largest-selling soft drink brands in India and is a billion-dollar brand, according to the October-December 2021 earnings of the U.S. beverage major.
Bisleri re-entered the soft drink segment with the launch of Bisleri POP, a range of soft drinks in four flavours—Spyci, Limonata, Fonzo and PinaColada.
Tata Consumer, in a response to stock exchanges, said the company "evaluates various strategic opportunities for growth and expansion ... on an ongoing basis". Its management remains "in discussions with various parties", including Bisleri International.
Shares of Tata Consumer gained 2.04% as of 11:10 a.m., while the benchmark Nifty 50 rose 0.55%.