Three days after Tata Consumer Products Ltd called off their negotiations, veteran industrialist Ramesh Chauhan said on Monday that he has no plans to sell his packaged water business Bisleri International and is not in contact with any parties about it.
Chauhan had been in talks with the Tata group’s FMCG business, Tata Consumer Products Ltd (TCPL), for about four months, but the deal fell through.
When asked if he has any plans to sell Bisleri right now, Chauhan told PTI, “We have no plans.” When asked about a media allegation that his daughter Jayanti Chauhan is ready to manage the company, the 82-year-old pioneer of the Indian bottled water industry declined to comment.
Early this year, Chauhan stated that he was in talks with multiple parties, including TCPL, to sell his Bisleri firm.
When asked about the grounds for Bisleri’s business sale, the octogenarian business leader said someone had to manage and look into it.
According to Chauhan, his daughter Jayanti is uninterested in running the firm.
Bisleri International Spokesman later stated in a media statement, “We are currently in conversation and cannot say further.” However, TCPL stated in a regulatory statement last week that it has not entered into any agreements regarding the acquisition of Bisleri, putting the rumours about a possible takeover to rest.
“In this context, the business wishes to update that it has now terminated conversations with Bisleri regarding a prospective transaction and to confirm that the company has not entered into any definitive agreement or binding commitment on this topic,” TCPL said.
Bisleri International is a bottled water company that produces Bisleri and Vedica spring water. It’s also in fizzy drinks like Spyci, Limonata, Fonzo, and PinaColada.
Chauhans sold their soft drinks company to The Coca-Cola Company in the United States three decades ago. In 1993, he transferred Thums Up, Gold Spot, Citra, Maaza, and Limca to the Atlanta-based corporation.
Tata Chemicals’ consumer products division was merged with Tata Global Beverages to establish TCPL. It has made various acquisitions and is growing its addressable market reach as it strives to be a serious competitor in the FMCG category by expanding its play into existing categories and going into new ones.
With its Himalayan brand, TCPL is already present in the bottled water category. Furthermore, it is involved in the hydration segment through Tata Copper Plus Water and Tata Gluco.
