Multinational conglomerate Tata Group has reportedly started talks with Bisleri International to acquire a stake in the bottled water giant.
The talks are understood to have been initiated by Tata Consumer Products Ltd, the fast-moving consumer goods (FMCG) wing of the Tata Group, news agency PTI reported.
A person familiar with the developments told PTI that the talks are in a very preliminary stage and would be premature to say a deal would fructify. Both Tata and Bisleri declined to comment on the development.
The Tata Group sells packaged mineral water under the brand Himalayan and other two brands - Tata Copper Plus Water and Tata Gluco - in the hydration segment.
Citing industry observers, PTI said that if the Tata-Bisleri deal is finalised, it would give Tata Consumer Products Ltd a larger play in the bottled-water segment which is witnessing fast growth.
There are several companies in India that are a part of the bottled-water segment. However, Bisleri is the market leader.
Tata Consumer Products Ltd is aiming to be a formidable player in the FMCG category, by expanding its play into the existing category and venturing into new areas.
“With strong product innovation, investment in strengthening our brands and strategic acquisitions, we are well on track in our journey to become a leading FMCG company,” the Tata Group's FMCG wing said in its latest annual report.
{{/usCountry}}“With strong product innovation, investment in strengthening our brands and strategic acquisitions, we are well on track in our journey to become a leading FMCG company,” the Tata Group's FMCG wing said in its latest annual report.
{{/usCountry}}(With PTI inputs)