Mumbai: Ramesh Chauhan has done it again. After selling his brands – Thums Up, Maaza, Citra, Gold Spot and Limca to Coca Cola almost three decades back, the 82-year old business tycoon and chairman of Bisleri International has planned to divest his stake in the company to Tata Consumer Products Ltd (TCPL) for an estimated sum of Rs 6,000 – 7,000 crore, as per media reports.
The reports say that the current management will continue for two years as part of the deal. Bisleri brand's turnover is estimated at Rs 2,500 crore with profit at Rs 220 crore for FY’ 23, reveal reports.
Media reports cite that Chauhan’s motive behind selling the brand was the fact that he has no successor to expand and handle the brand. His daughter Jayanti isn’t too keen on taking care of it.
Ramesh Chauhan-led Bisleri International functions in the segment with bottled water brand Bisleri and spring water Vedica. It is also existent in fizzy drinks with brands - Spyci, Limonata, Fonzo and PinaColada.
The Tata Group runs its consumer business under Tata Consumer Products Ltd (TCPL) which also sells packaged mineral water under the brand Himalayan, and also has brands such as Tata Copper Plus Water and Tata Gluco+ in the hydration segment.