According to persons familiar with the subject, Tata Group’s discussions for a controlling share in Bisleri International Ltd, one of India’s top bottled water manufacturers, have stalled over value.
According to the persons, the Indian conglomerate was in advanced talks to take control of Bisleri, and the parties were working on finalising the form of a deal. According to the sources, Bisleri’s owners were hoping to raise around $1 billion from the transaction. Talks later stalled because the firms couldn’t agree on a valuation, according to the sources, who requested not to be identified since the material is private.
According to the sources, talks between Tata and Bisleri might continue, and other prospective suitors could emerge. Tata and Bisleri representatives declined to comment.
According to its website, Bisleri dates back to 1949, when Shri Jayantilal Chauhan formed soft drinks company Parle Group, which purchased Bisleri from an Italian entrepreneur in 1969. It claims a 60% market share in India’s bottled mineral water industry. Hand sanitizer is also manufactured by the firm. Bisleri Chairman Ramesh Chauhan indicated in a November local television appearance that the company was in discussions to sell a share to Tata.
Tata Group might have increased its portfolio of bottled water brands in India by acquiring Bisleri. Tata Consumer Products Ltd., one of the conglomerate’s listed subsidiaries, owns the Himalayan Natural Mineral Water and Tata Water Plus brands.