Bisleri will be acquired by Tata Consumer for about Rs 7,000 crore
By Tata Consumers to acquire Bisleri International. Ramesh Chauhan is reportedly diverting Bisleri International to Tata Consumer Products Ltd (TCPL) for an estimated Rs 6,000-7,000 crore.
Chouhan has been indifferent health in recent times and says he has no heir to take Bisleri to the next level of expansion.
However, the current management will continue for two years as Bisleri is Indias largest packaged water company as part of the deal.
“The Tata Group will nourish and look after it even better, though selling Bisleri was still a painful decision. I like the Tata culture of values and integrity and therefore made up my mind despite the aggression shown by other willing buyers”
Bisleri is said to have had several suitors at different times, including Reliance Retail, Nestle and Danone.
Negotiations with Tata have been on for two years and Chauhan made up his mind after meeting Tata Sons chairman N Chandrasekaran and Tata Consumer CEO Sunil DSouza a few months ago.
“Chouhan was quoted in media reports as saying, “”I like them, and they are good people”.
Chouhan does not seem to be at stake after selling his business.