Ramesh Chauhan claimed that he is in talks with a number of potential purchasers about selling Bisleri.
Ramesh Chauhan, a seasoned businessman, revealed on Thursday that he is looking for a buyer for his packaged water company Bisleri International and is in talks with a number of parties, including Tata Consumer Products Ltd.
A 7,000 crore contract with Tata Consumer Products Ltd., according to a report, was refuted by the 82-year-old pioneer of the Indian bottled water industry (TCPL).
Ramesh Chauhan responded in the affirmative when asked if he was selling his bisleri business. “Yes. We are, “He spoke to PTI.
He did, however, disclose that the group is in talks with a number of potential buyers.
When questioned about the rumors that he had consented to sell his company to a company affiliated with the Tata Group, Chauhan, Chairman of Bisleri International, responded, “It’s inaccurate… We’re still talking.”
The octogenarian company executive responded that someone needed to manage and investigate the sale of the Bisleri business when questioned about the circumstances.
Jayanti, his daughter, is not interested in running the company, Chauhan continued.
Later, a spokesperson for Bisleri International said in a statement to the media: “We are in talks and cannot say further.”
Chauhans sold their soft drink company to The Coca-Cola Company, a large US beverage company, thirty years ago. In 1993, he transferred to the company with its headquarters in Atlanta names like Thums Up, Gold Spot, Citra, Maaza, and Limca.
Thums Up, one of these brands has already attained billion-dollar status, and Coca-Cola anticipates that Maaza, a manufacturer of fruit drinks, will follow suit by the year 2024.
By introducing “Bisleri POP,” Chauhan returned to the soft drink market in 2016 but was unable to recapture its enchantment.
By the time the story was submitted, TCPL, the FMCG division of the Tata Group, had not provided a response.
The Tata group company, which aspires to be a “formidable competitor in the FMCG business,” recently completed a number of acquisitions and is broadening its target market presence.
If the agreement between TCPL and Bisleri is completed, it will make the Tata group company a market leader in the quickly expanding bottled water sector.
With its brand Himalayan Water which sells packaged mineral water, TCPL is already a player in the bottled water market. Additionally, it can be found in the hydration market alongside Tata Copper Plus Water and Tata Gluco.
