A deal for one of India's top conglomerates Tata to acquire its most iconic mineral water brand Bisleri may not move ahead, as negotiations have come to an end.
Tata Consumer has stated in an exchange filing, that it hasn't signed any binding agreement with Bisleri on the matter.
Looking to pass on a legacy
It was first reported in November 2022 that Tata Consumer will buy Bisleri for Rs 7,000 crore, but the bottled-water seller later denied the claims.
The man behind the brand, Ramesh Chauhan decided to sell it citing his health and also because his daughter isn't interested in taking over the business.
Although the likes of Reliance, Nestle, and Danone were said to be in the race to bag Bisleri, Chauhan had expressed admiration for Tata's culture.
He had bought the business from an Italian businessman back in 1969 for Rs 4 lakh and has also been a competitor for Tata's Himalayan water brand in Indian markets.
Flowing from Italy into Indian markets
Bisleri had been launched first in 1851 by an Italian chemist Felice Bisleri, as a cure for hangover with herbs and iron salts.
After the founder's death, his family doctor Rossi partnered with Mumbai-based Khushroo Suntook using the brand to sell clean drinking water in India.
But after Chauhan bought Bisleri, it became synonymous with bottled water and a household name in India.
Before Bisleri, Chauhan has also created iconic Thums Up, Limca and Maaza, which it sold to the Coca-Cola Company back in 1993.
