Fast-Moving Consumer Goods (FMCG) major Tata Consumer Products Ltd (TCPL) has ceased acquisition talks with Bisleri International Private Limited. “In this regard, the Company wishes to update that it has now ceased negotiations with Bisleri about a potential transaction and to confirm that the company has not entered into any definitive agreement or binding commitment on this matter,” the company informed the stock exchanges. 

Earlier, it had stated that it evaluates various strategic opportunities for growth and expansion of its business on an ongoing basis. It was in discussions with various parties, including Bisleri International Private Limited.

Read: Bisleri-Tata Saga: The buzz in bottled water biz

Tata Consumer, which owns the “Himalayan” mineral water brand, said it was interested in acquiring a stake in Bisleri International as a part of its expansion in September 2022.

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The deal with Bisleri International was expected to cost Tata Consumer around ₹6,000-7,000 crore. Bloomberg had reported that the talks had fallen through due to a disagreement over valuation.

Also Read:Tata Consumer Products to focus on health & wellness, convenience, premiumisation

Tata Consumer posted a 5 per cent volume decline and a 9 per cent decline in revenue growth for packaged beverages due to price corrections and a fall in volume due to a slowdown in demand However, its coffee revenue grew 34 per cent YTD.

Bisleri International declined to comment.

The packaged bottled water company has aggressive organic growth plans and recently marked its international foray by setting up operations in UAE. As part of the four-year vision which was kickstarted last April, it is in the process of scaling up production capacity across company-owned and franchise-owned plants.

Bisleri International also aims to more than double its sales compared to pre-pandemic levels by FY26. Currently, it has a network of 138 plants including company-owned and franchise-owned plants.

(With Inputs from Meenakshi Verma Ambwani in New Delhi)