- ALSO READ
Jayanti Chauhan to head Bisleri International after Tatas walk out
Why is the Tata group thirsting for Bisleri?
TMS Ep312: Tata's Bisleri buyout, India's space start-ups, Markets, ARPU
Tea Board may modify past order on blending, change to help tea firms, TCPL
Dabur makes an entry into Rs 5,600-crore premium tea market with Vedic tea
-
Tata Consumer Products is planning to make substantial investments in its own mineral water brands, such as Tata Copper+ and Himalayan, The Economic Times reported. The development comes at a time when its plans to acquire leading bottled water brand Bisleri could not come to fruition.
Company CEO and Managing Director Sunil D'souza was quoted as saying in the report that "Acquiring Bisleri would have fast-forwarded our plans by three years, but this plan was just a small puzzle in our big F&B (food and beverage) puzzle box." He added that the company plans to support its own brands, including Tata Copper+, Tata Gluco+, and Himalayan mineral water. He emphasised that the company had strong resources at its disposal and intended to utilise them.
The Tata Group company announced on March 17 that negotiations regarding the potential acquisition of Ramesh Chauhan's Bisleri International had ceased. Notably, the parties discussed the particulars of the deal for almost two years, and it was expected to be closed soon. However, some disagreements could not be resolved, and the deal was called off, the report said.
D'souza went on to say that "Bisleri is a fantastic brand and would have changed the growth trajectory for Tata Consumer, but now that plan is done and dusted." Tata Consumer Products has enviable brands like Tata Tea, Tetly, and Tata Salt under its belt. The report quoted D'Souza as saying that it has a war chest to acquire brands in the F&B space, but it will not overpay.
Elaborating on the Bisleri deal and Tata's own plans, D'Souza told ET "I have a strong middle-class mindset in that sense about seeing the value offered at a particular price,". "There are no other similar brands in this space for which we would pay as much (as for Bisleri). Tata Copper+ is a Rs 400-crore brand, and we will accelerate its growth."
Compared to its other rivals such as Hindustan Uniliver Limited, Britannia, and ITC, Tata Consumer Products has been a late starter in the space. However, it maintains an ambitious outlook and is quickly taking steps to expand its offerings, the ET report said.
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.
Download the Business Standard App for latest Business News and Market News .
First Published: Thu, March 23 2023. 12:22 IST
RECOMMENDED FOR YOU