Tata Consumer to acquire Bisleri from Chauhan

Tata Consumer is set to acquire India's largest packaged drinking water company, Bisleri, for an estimated sum of 6,000 -- 7,000 crore. The current management will continue for two more years as part of the deal, according to The Economic Times. Chauhan is ill and daughter Jayanti's lack of interest in the business is driving him to sell the company. He said that selling Bisleri was a painful decision, but he believes that the Tata Group will take better care of it.

There are other interested parties such as Danone, Nestle and Reliance Retail. The report stated that talks between Tata and Chauhan have been going on for the past two years. Chauhan made up his mind after meeting Tata Sons Chairman N Chandrasekaran and Tata Consumer CEO Sunil D Souza. They are good guys, he said.

Chauhan does not plan to keep a minority stake in the company, he sees no point in it considering he will not be running the show anymore. Instead, he plans to invest in environmental and charitable causes.

He said he did not know what he would do with the money. Chauhan said that it was not about the value of the business, but rather about finding the right home for the company.

The day-to-day management team is led by a professional team led by CEO Angelo George.

Bisleri was originally an Italian brand, but was acquired by the Chauhans in 1969. The company has 122 operational plants in the country.