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Tata Consumer to acquire Bisleri for around Rs 7,000 crore: Report
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IANS | 24 Nov, 2022
Ramesh
Chauhan is divesting Bisleri International to Tata Consumer Products
Ltd (TCPL) for an estimated Rs 6,000-7,000 crore, The Economic Times
reported.
The current management will continue for two
years as part of the deal. Chauhan, 82, has been in indifferent health
in recent times and says he doesn't have a successor to take Bisleri to
the next level of expansion. Daughter Jayanti isn't too keen on the
business, Chauhan said. Bisleri is India's largest packaged water
company.
The Tata Group "will nurture and take care of it even
better," although selling Bisleri was still a "painful" decision,
Chauhan said.
"I like the Tata culture of values and integrity
and hence made up my mind despite the aggression shown by other
interested buyers", the report said.
Bisleri is said to have had
several suitors at different times, including Reliance Retail, Nestle
and Danone. Talks with Tata have been going on for two years and he made
up his mind after meeting Tata Sons chairman N Chandrasekaran and Tata
Consumer CEO Sunil D'Souza a few months back. "I like them. They are
good guys," he told ET.
Chauhan doesn't see any point in holding
minority stakes after selling the business. "What will I do with it when
I am not running the show?" he said.
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