New Delhi: Tata Consumer Products Ltd (TCPL) is set to acquire India’s largest packaged water company Bisleri International for Rs 7,000 crore, sources said on Thursday. The current management of Bisleri International led by Ramesh Chauhan will, however, continue for two years according to the deal.
According to reports, 82-year-old Chauhan has been in indifferent health in recent times.
Dialogues with Tata have been taking place for two years and Chauhan made up his mind to sell the company after meeting Tata Sons chairman N Chandrasekaran and Tata Consumer CEO Sunil D’Souza a few months ago.
He has said he does not have a successor to take Bisleri to the next level of expansion. His daughter Jayanti is also not too keen on the business.
The Tata Group will nurture and take care of it even better, but selling Bisleri is a “painful” decision.
Bisleri is said to have had many suitors at different times. Those suitors included Reliance Retail, Nestle and Danone.