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India's fast-moving consumer goods company, Tata Consumer Products Ltd is reportedly all set to acquire drink company, Bisleri International in a deal worth USD 856 million (₹7000 crores), reported the packaged water makers chairman, Ramesh Chauhan.
Upon being quizzed, Tata Consumer Products and Bisleri did not provide any comments.
For the record, Tata Consumer was recently the top gainer among Nifty50 stocks, recording a rise of 2.5% in early trade.
The Tata Group accommodates its consumer business under TCLP (Tata Consumer Products Ltd), which also retails packaged mineral water under the Himalayan and with brands like Tata Gluco and Tata Copper Plus Water in the hydration segment.
As per the industry observers, if the deal gets finalized, it will offer the Tata group FMCG arm an opportunity to become a leader in the fast-growing bottled water sphere.
According to credible reports, the Indian bottled water industry was valued at nearly USD 2.43 billion in 2021. It is further anticipated to grow at a CAGR of 13.25 per cent ascribing to rising health and hygiene awareness, higher disposable income, and growing product innovation, added the report.
Apparently, bottled water is gaining traction as consumers believe it is more hygienic than the loose normal water available in the market, which is not good for health as well as unsafe to drink.
Several companies like Coca-Cola India through its brand Kinley, Bailley from Parle Agro, PepsiCo's Aquafina, and IRCTC’s (Indian Railway Catering and Tourism Corporation) Rail Neer are some of the competitors who fall behind the market leader, Bisleri.
Apparently, TCLP, which was established following the merging of the consumer products business of Tata Chemicals with Tata Global Beverages, inspires to become one of the leading players in the FMCG category by magnifying its scope and range into the existing category and foraying into new areas.
Source credit - https://www.livemint.com/market/stock-market-news/tatas-to-acquire-bisleri-for-up-to-rs-7-000-crore-11669261244421.html
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