March 20, 2023, marked the cancellation of the much sought-after acquisition deal between two major players in their respective fields, namely Tata Consumer Products Limited and Bisleri International. After a long wait and nearly two years of discussion between the players, the deal came to a standstill last week due to indecisiveness. Bisleri International was ready to sell its majority stake at a value of around Rs 7,000 crore to the FMCG counterpart of Tata.
The CEO of TCPL, Sunil D’Souza, said concerning the deal cancellation: “Acquiring Bisleri would have fast-forwarded our plans by three years, but this plan was just a small puzzle in our big F&B (food and beverages) puzzle box.”
After the fallout of this acquisition deal, it was said that the company would work on improving its own mineral water brands, including Tata Copper+, Tata Gluco+, and Himalyan.
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Along with the plans to improve its pre-existing brands, TCPL also moves toward improving the distribution circle. “We had put on hold some investment decisions in our RTD business. However, we have expanded our manufacturing and distribution footprint to 70 per cent of the market and will now focus on expanding to the rest,” D’souza said.
Soon after this acquisition deal fallout, Bisleri saw another major shift in the operating structure, with Jayanti Chauhan, the daughter of Bisleri International Chairman Ramesh Chauhan, taking over the company. Jayanti took over as Vice Chairperson of the company after the cancellation of the TCPL deal.
There are high hopes for the growth of both companies, and anticipation builds in the market to see the performance and growth trajectory of both brands.
