Tata Consumer Ceases Talks To Buy Bisleri
Tata Consumer Products has ended its talks to acquire bottled water maker Bisleri International.
Tata Consumer Products Ltd. has ended its talks to acquire bottled water maker Bisleri International Pvt.
The company has now "ceased negotiations" with Bisleri for a potential transaction and has not entered into any definitive agreement or a binding commitment on this matter, the Tata Group company said in an exchange filing on Friday.
Bloomberg had reported earlier, citing people familiar with the matter, that the deal negotiations had stalled over valuation.
The voluntary disclosure came following news reports that Ramesh Chauhan was in talks with the Tata Group for a potential sale. Chauhan had even confirmed to BQ Prime that he was in talks with the Tata Group company.
Bisleri, with a market share of 32%, is the leader in the Rs 20,000 crore packaged drinking water segment. A potential deal with Bisleri would have catapulted the Tata Group to become the packaged water giant.
Tata Consumer Products is already present in the bottled water segment with its brand Himalayan, selling packaged mineral water. Besides, it is also present in the hydration segment with Tata Copper Plus Water and Tata Gluco.
Bisleri had several suitors in the past, including Reliance Retail Ltd., Danone S.A., and Nestle S.A., among others.