The Rs 1,400-crore Tilaknagar Industries Ltd plans to acquire interests in an alcoholic beverage manufacturing company in North India.
The Mumbai-headquartered company, better known for its ‘Mansion House’ brandy, has not divulged details of the targeted acquisition.
“We are always open to inorganic growth either through a joint venture or other formats. We are looking forward to a lot of inorganic growth in North in the next three months. The plans have reached an advance stage,” K. Laxmi Narasimhan, Deputy Managing Director of Tilaknagar Industries, said here.
The company has launched a whisky under the flagship ‘Mansion House’ brand in West Bengal.
Tilaknagar reportedly controls 42 per cent share in the brandy market in Southern States.
The company has recently entered an arrangement to bottle alcoholic beverages for Pernod Ricard India Pvt Ltd in Maharashtra and Andhra Pradesh.
According to Narasimhan, the company might take its bottling tie-up with Pernod Ricard to other States in the near future. Tilaknagar has bottling capacities of approximately 12 million cases a year across the country.
The company is looking forward to clock 20 per cent growth in overall turnover this fiscal. “However, our sales have been impacted over first six months of this fiscal as operations were completely stopped in Tamil Nadu for a quarter. We had to change the distributor in the State,” Narasimhan said.
According to him, the company would double its export by this fiscal-end. “Export market is going to be a big thrust for us. Currently, export to Africa, Middle East and Singapore accounts for four per cent of our total turnover. We expect to double it this fiscal,” Narasimhan said.