M&A

M&A

Tilaknagar Industries acquires Imperial Blue whiskey for Rs.4,150-Cr

BSE Announcement   Pernod Ricard India Private Limited  

Mumbai-based publicly listed Indian-Made Foreign Liquor (IMFL) manufacturer, Tilaknagar Industries Limited (TI) has acquired Paris, France-based Imperial Blue business division (IB) from Pernod Ricard India Private Limited via slump sale, for an enterprise value of Euro 412.6 million (around INR 4,150 crores). The consideration includes deferred payment of Euro 28 million (c. INR 282 crore), to be paid four years after the date of closure of the transaction.Imperial Blue is the third largest whisky brand in India by volume, with over 25 years of brand heritage. The proposed transaction includes acquisition of the IB, with 22.4 million 9-litre cases sold in FY25 across India and other markets, including two owned units and services from co-manufacturing bottlers across India. The business had reported revenue of INR 3,067 crore for the year ended March 2025.Deutsche Bank and Avendus Capital acted as financial advisors to the acquirer, with Avendus Capital also serving as the exclusive financing arranger to TI. Crawford Bayley & Co. and W.S. Kane & Co. acted as legal counsels while Deloitte served as the diligence advisor to TI.