Chairman of Bisleri International, Ramesh J Chauhan, is planning to divest some of his stake in the company and currently is in discussions with the Tata Group and others for the sale.
"We are in discussions with Tatas, other players are there in the fray, but cannot share. We would like to hold on to some stake," Chauhan told CNBC-TV18 on November 24.
Earlier today, The Economic Times reported that Tata Consumer Products Ltd (TCPL) is planning to acquire India’s largest packaged water company for an estimated Rs 6,000-7,000 crore. The current management will continue for two years as part of the deal, the report said.
The Tata Group houses its consumer business under Tata Consumer Products Ltd (TCPL) which also sells packaged mineral water under the brand Himalayan and with brands as Tata Copper Plus Water and Tata Gluco+ in the hydration segment.
Ramesh J Chauhan-led Bisleri International operates in the segment with bottled water brand Bisleri and spring water Vedica. It is also present in fizzy drinks with brands - Spyci, Limonata, Fonzo and PinaColada.The Indian bottled water market was valued at over $2.43 billion (around Rs 19,315 crore) in FY2021, said a report from market research and advisory TechSci Research. It is expected to grow at a CAGR of 13.25 per cent on account of increasing disposable income, rising health and hygiene awareness, and increasing product innovation, the report added.
Chauhan has also created various super brands such as ThumsUp, Gold Spot, Maaza and Limca, which was acquired by the Coca-Cola Company in 1993 when the Atlanta-headquartered company had re-entered the Indian market.