Tata Group Calls Off Rs 7000 Cr Bisleri Acquisition

The Tata-Bisleri talks were ongoing for two years before the mega Rs 7000 cr takeover fell off. Bisleri at the time were set to have several suitors including Reliance Retail, Nestle and Danone. What lies ahead for Bisleri? Only time will tell.

New Delhi: Tata Consumer Products today informed that it has called off the discussion with Bisleri for the potential acquisition of the packaged water giant. The deal, if took place, would’ve made the tea-to-steel conglomerate the leader in Indian packaged water segment.

“The company wishes to update that it has now ceased negotiations with Bisleri with regard to a potential transaction and to confirm that the company has not entered into any definitive agreement or binding commitment on this matter,” Tata Consumer Products said in a stock exchange filing.

In November 2022, India.com had reported that Tata Group is in talks with Bisleri International to buy the company for an estimated Rs 6,000-Rs 7,000 crore.

“I like the Tata culture of values and integrity and hence made up my mind despite the aggression shown by other interested buyers,” Ramesh Chauhan, the chairman of Bisleri International had told Economic Times.

Earlier this month, India.com had reported that the talks between Tata Consumer Products and Bisleri International have been stalled over valuation.

Bisleri’s owners were looking to raise about $1 billion from a deal, Bloomberg reported citing people aware of the matter, adding negotiations with Tata hit a snag as the companies were unable to agree on a valuation. As per sources quoted by Bloomberg, Bisleri’s owners were looking to raise about $1 billion from a deal, but negotiations later hit a snag as the companies were unable to agree on a valuation.

Currently, Tata Consumer Products owns the Himalayan Natural Mineral Water and Tata Water Plus brands. The addition of Bisleri in TCPL would have expanded its portfolio of bottled water brands in India. When it comes to FMCG space, Tata Consumer is aiming a top three spot with its aggressive approach, that too at a time when Reliance is looking for a strong footprint in the FMCG segment. The Bisleri acquisition  would have put the TCPL in a driving seat of the packaged drinking water segment.

The Tata-Bisleri talks were ongoing for two years before the mega Rs 7000 cr takeover fell off. Bisleri at the time were set to have several suitors including Reliance Retail, Nestle and Danone. What lies ahead for Bisleri? Only time will tell.