As a result of Tata Consumer Products Ltd’s(TCPL) decision not to pursue a buyout, Ramesh Chauhan’s daughter Jayanti Chauhan will head Bisleri International, according to a report. Jayanti Chauhan, daughter of Bisleri International chairman Ramesh Chauhan, will head the bottled water company now that Tata Consumer Products Ltd (TCPL) has withdrawn from the acquisition process, reported on March 20. Jayanti Chauhan to lead Bisleri International after TCPL withdraws acquisition plan.
“Jayanti Chauhan will run the company with our professional team and we do not want to sell the business,” Bisleri chairman Ramesh Chauhan said. Jayanti Chauhan, 42, is currently the vice chairperson at the company that her father promoted and built.
According to people with knowledge of the matter, she will work with the professional management team led by Angelo George. The 82-year-old Chauhan sold the brand to the Tata Group earlier this year for an estimated Rs 7,000 crore. The deal with India’s largest bottled water brand was cancelled by Tata Consumer due to “indecisiveness”.
There were no disagreements about valuation, they said. According to analysts, the promoters may change their minds in the future. “Let us wait and watch,” one of them. “We are sure that interested buyers will continue to wait for an opportunity to buy the brand,” he added.
Tata Consumer had reportedly begun negotiations with the Chauhan family two years ago but called off negotiations last week. Jayanti Chauhan has been involved with the business periodically over the years. The Vedika brand, part of Bisleri’s portfolio, has been her focus in recent years.
Reportedly, the Tata Group had gone to great lengths to assure Chauhan that Bisleri’s legacy would continue under the Tata Group. “But we had to finally call off this fence-sitting,” one of the sources. Due to early summer and an increase in out-of-home demand, packaged beverages have grown in high double digits.
Sunil D’Souza, Tata Consumer’s managing director, stated on recent earnings calls that acquisitions remain a core part of the company’s growth strategy. “The company will now focus on building its existing bottled water portfolio of Himalayan, Tata Copper Plus Water and Tata Gluco,” one of the executives cited above told. The company “has not entered into any definitive agreement or binding commitment with Bisleri International,” the fast-moving consumer goods (FMCG) arm of the Tata Group said on March 17 in an exchange filing.
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