The Hindu Business Line : Ramesh Vangal turns angel to kick-start Katra Liquor

ENDING a long-peddled speculation, the high-flying strategic investor Mr Ramesh Vangal has given shape to plans to get back into the spirits business. He has donned the role of angel investor to kick-start a new sprits entity, Katra Liquor, headed by a former Seagram honcho, Mr Kaushik Chatterjee.

This Bangalore-based start-up already has 20 people on board and is in the midst of hiring more even though the company is yet to formally announce its operational plans. Mr Chatterjee will head Katra as Chief Executive with the rest of the top management comprising Mr Arun Barik as head of manufacturing and Mr Ashish Mishra as head of marketing.

Both will report to Mr Chatterjee. Mr Barik also joins Katra from Seagram, while Mr Mishra has had a prior marketing stint with Bacardi Martini India Ltd.

The corpus of Mr Vangal's investment in this new venture is not known yet though sources said he has the support of two large private equity firms for his new initiatives in India.

Mr Vangal, who steered Seagram into India in the early 90s, will not be involved with the company's daily operations. He has chosen not to comment on his rekindled liquor interests. "Given that I am an angel investor it makes sense for you to meet Mr (Kaushik) Chatterjee," Mr Vangal told this newspaper when queried on his liquor interests.

Mr Vangal's primary interest is in IT sector where he is the founding investor and Chairman of Scandent Group, which recently bought the software arm of SSI Technologies Ltd.

His return to the spirits industry has been a matter of intense media speculation ever since he exited Seagram with his strategic minority stake in 2002. This followed the acquisition of Seagram's Asia-Pacific interests by the French drinks giant, Groupe Pernod Ricard.

Katra remains tight-lipped on its business plans even though sources said it was working on a 360-degree approach that is required to lift a new venture in the difficult domestic spirits market. Mr Vangal and the company have been on the lookout to acquire companies or underperforming brands, sew up regional or national distributions pacts and launch its own spirits labels, especially locally bottled scotch at affordable price.

Mr Vangal has been in touch with the important local families that control Indian spirits business, the leading industry professionals, prominent dealers and bottlers in the run-up to establishing Katra.

Informed sources said Vangal would soon rope in a foreign spirits company as partner in Katra. Business Line had earlier reported Mr Vangal's plans to bring in a reputed Scottish company, Inver House, as part of his second foray into liquor.

More Stories on : Announcements | Breweries

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page