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Global and local giants eye Bisleri
By siliconindia
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Thursday, 26 July 2007, 19:30 IST
Mumbai: Global and Indian giants, such as France's Danone, Coca-Cola and Wipro, are in the race to buy Bisleri. "There are interested parties all the time. That does not signify my immediate intent to sell," said Ramesh Chauhan, Chairman, Bisleri International. Coca-Cola, which bought Chauhan's brands such as Limca and Thums Up 14 years ago, is one of the suitors. The deal is unlikely to happen in a hurry, and may see Chauhan opt for a joint venture before selling out completely.
Representatives of all the companies have come and met Chauhan and his team and are believed to be willing to pay 4-6 times the sales of Bisleri, given the 35 percent growth in the product category.
Wipro is equally keen to have a larger share of the consumer spends, and is scouting for new growth avenues, reported Economic Times.
Bisleri, an Italian brand, was bought by the Chauhans and had set up Bisleri India in Thane, near Mumbai, in 1966. Bisleri was picked up then for less than Rs 4 lakh. Chauhan then sold Maaza in 1993, along with Thums Up, Citra, Goldspot, Rim-Zim and Limca, for about Rs 180 crore.