Tata Consumer Products calls off Rs 7,000 crore Bisleri acquisition
Last November, brand owner Ramesh Chauhan had told Business Standard that he expected the deal to be completed in 7-8 months
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It added, “the company has not entered into any definitive agreement or binding commitment on this matter.”
Last November, brand owner Ramesh Chauhan had told Business Standard that he was in discussion with TCPL to sell a majority stake in the company for Rs 6,000-7,000 crore, adding that he expected the deal to be done in 7-8 months.
Bisleri was originally an Italian firm set up by Felice Bisleri. It entered Mumbai in 1965 with its packaged drinking water brand. Four years later, Ramesh Chauhan and his brothers bought it for Rs 4 lakh, according to market information.
Currently, it has over 122 operational plants and 4,500 distributors pan-India and in neighbouring countries.
In FY22, TCPL’s revenue from operations stood at Rs 12,425 crore.
According to media reports, Bisleri is likely to clock sales of Rs 2,500 crore and earn a net profit of over Rs 200 crore in FY23.
6:18 PM
More than 350 civilians confirmed killed in Ukraine so far, says UN
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6:18 PM
More than 350 civilians confirmed killed in Ukraine so far, says UN
It added, “the company has not entered into any definitiveIt added, “the company has not entered into any definitiveIt added, “the company has not entered into any definitiveIt added, “the company has not entered into any definitiveIt added, “the company has not entered into any definitiveIt added, “the company has not entered into any definitive
Topics : TCS
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First Published: Mar 17 2023 | 6:14 PM IST
