Talks between the Tata group and India's largest bottled water maker, Bisleri, have reportedly stalled. Tata consumer products was in talks to acquire Veteran industrialist Ramesh Chauhan's Bisleri brand.
According to a Bloomberg report, Tata Group’s discussions to acquire a majority stake in Bisleri have halted over valuation concerns. Bisleri’s owners were looking to raise about $1 billion from a deal. But the companies were unable to agree on the valuation.
However, Bloomberg said the talks may still resume and other potential suitors may emerge.
Ramesh Chauhan, who is the chairman of Bisleri International, has no successor to take Bisleri to the next level of expansion.
For Tata Group, acquiring Bisleri could have expanded its portfolio of bottled water brands in India. One of the conglomerate’s listed units, Tata Consumer Products Ltd. owns the Himalayan Natural Mineral Water and Tata Water Plus brands.