Talks with the Tata Group have been going on for two years and Bisleri chairman Ramesh Chauhan made up his mind after meeting Tata Sons chairman N Chandrasekaran and Tata Consumer CEO Sunil D’Souza a few months back. “I like them. They are good guys,” the 82-year-old said, adding that he doesn’t see any point in keeping minority stake
82-year-old Ramesh J Chauhan will sell his packaged water company Bisleri to Tata Consumer Products Ltd (TCPL) for about Rs 6,000-7,000 crore, nearly thirty years after he sold soft drink brands Thums Up, Gold Spot and Limca to Coca-Cola. Chauhan doesn’t have a successor as daughter Jayanti isn’t much interested in the business.
The current management at India’s largest packaged water company will continue for two years as part of the deal. The octogenarian chairman of the company hasn’t been keep keeping too well and has been in indifferent health in recent times.