Ramesh Chauhan is selling Bisleri International to Tata Consumer Products Ltd (TCPL) for an estimated $6,500–$7,000 crore, nearly three decades after selling Coca-Cola the soft drink brands Thumbs Up, Gold Spot, and Limca.
As part of the agreement, the current management will remain in place for two years. Chauhan, 82, claims he lacks a successor to carry Bisleri to the company's next stage of growth because of his recent mediocre health. Jayanti, the daughter, isn't overly interested in the company, Chauhan claimed. The largest bottled water firm in India is called Bisleri.
Although selling Bisleri was still a "difficult" choice, the Tata Group "will nurture and take care of it much better," Chauhan said. Despite the animosity displayed by other interested buyers,he made up his decision because he respects the ideals and integrity of the Tata culture.
According to reports, Bisleri had a number of suitors at various points in time, including Reliance Retail, Nestle, and Danone. He made up his mind after meeting with Sunil D'Souza, CEO of Tata Consumer, and N Chandrasekaran, chairman of Tata Sons, a few months ago. Talks with Tata have been ongoing for two years. When Bisleri first opened shop in India in Mumbai in 1965, it was an Italian company. It was purchased by the Chauhans in 1969. The business operates 122 factories, 13 of which are owned, and operates a network of 4,500 distributors and 5,000 trucks throughout India and its neighbours.