Ramesh Chauhan, chairman of packaged drinking water company Bisleri International, has said that he has no plans to sell the company. The chairman said that he is not in talks with any party to sell the business. The development comes days after Tata Consumer Products Ltd called off its talks with Bisleri.
According to reports, Ramesh Chauhan’s talks with Tata Group’s FMCG arm Tata Consumer Products Limited (TCPL) were on for about four months, but the deal did not materialize.
“We have no plans to sell the business,” Chouhan told PTI.
The 82-year-old businessman declined to comment when asked if his daughter was ready to lead the company from here on.
In November last year when Bisleri was in talks with Tata, Ramesh Chauhan said that someone would have to take over the business and see to it as his daughter Jayanti was not interested in leading the business.
Later in a media statement, a Bisleri International spokesperson had also said, “We are in discussions at this point of time and cannot disclose further details.”
However, last week putting an end to speculation about a possible acquisition, TCPL said in a regulatory update that it has not entered into any agreement to acquire Bisleri.
TCPL had said, “In this regard, the company wishes to update that it has ceased talks with Bisleri regarding a potential transaction and to confirm that the company has not entered into any definitive agreement or binding commitment on the matter.” Is it.”
Bisleri International operates in the bottled water segment with its flagship brands Bisleri and Spring Water Vedika. It is also present in fizzy drinks from brands such as Spicy, Limonata, Fonzo and Pinacolada.
It is interesting to note that three decades ago the Chauhan family sold their soft drinks business to the American beverage company Coca-Cola Company. He transferred brands such as Thums Up, Gold Spot, Citra, Maaza and Limca to the Atlanta-headquartered firm in 1993.
,With inputs from PTI,
Read this also | ‘Artless Concrete Eyesource’: Jet Airways CEO On Indian Metro Stations, Compares Them To Dubai
Read this also | Indian IT sector will benefit from layoffs in US firms, more work will be done in the country: GlobalLogic CEO