&w=3840&q=100)
Japan' Suntory renews bid for Imperial Blue as rivals face funding issues
Suntory also showed interest in the acquisition last year, but reportedly dropped out of the race due to Pernod Ricard's demand of $1 billion for Imperial Blue
Rahul Goreja New Delhi
After initial interest last year, Japanese liquor major Suntory has revived its plan to acquire Imperial Blue whisky from French spirits group Pernod Ricard, The Economic Times reported.
Tilaknagar Industries, known for its Mansion House and Courrier Napoleon brandies, was the frontrunner until now, but it is reportedly facing funding challenges. Inbrew Beverages, founded by London-based entrepreneur Ravi Deol, is also said to be in the fray.
Suntory also showed interest in the acquisition last year, but reportedly dropped out of the race due to Pernod Ricard's demand of $1 billion for Imperial Blue. Since then, they have cut their demand and are reportedly seeking $600-$650 million.
According to the report, binding offers for the same are due in the next 10 days.
Third-largest whisky brand for sale
Imperial Blue, one of the country's leading whisky labels by volume, is being considered for sale as part of a wider restructuring by owner Pernod Ricard. Positioned in the deluxe segment—situated between mass-market and premium offerings—the brand recorded sales of 22.2 million cases in 2024, showing minimal growth compared to the previous year.
Despite being the third-largest whisky brands in India, holding an 8.6 per cent share of the Indian whisky market and ranking behind McDowell's and Royal Stag, Imperial Blue's performance has seen a gradual dip, with overall volumes declining 4 per cent over the last five years. It was first introduced in India in 1997 by Canadian distiller Seagram. In 2001, Seagram sold its global business to Pernod Ricard and Diageo, with Pernod Ricard taking over the Indian business.
Suntory strengthens India presence
Suntory, the company behind The Yamazaki and Hibiki whiskies, continues to hold a dominant position in the Japanese whisky segment in India. The company, which also owns Teacher's—the fifth-largest Scotch brand in the country—has a strong presence in the American whisky segment as well, with a 44 per cent share, the report added.
Its Indian subsidiary Beam Global posted a 12 per cent rise in revenue to ₹1,304 crore in the financial year 2023–24. Over recent years, Beam Global has introduced several new products in the Indian market, including the domestically produced Oaksmith whisky, Japanese whiskies The Yamazaki and Hibiki, Toki whisky, and Roku gin.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
22 minutes ago
- Indian Express
How India's chances to host 2030 Commonwealth Games got a boost as Canada's bid hits a snag
The Canadian province of Ontario, which was in the race to host the 2030 Commonwealth Games, has chosen not to pursue the bid further due to cost-related issues. It dealt a blow to the 'United Canada' bid as Ontario was one of the four provinces that had expressed interest in jointly hosting the 2030 edition. The decision seemingly boosts the chances of the Games returning to India after 2010, as Canada was seen as a key competitor for the event that has struggled to find any takers. Apart from India and Canada, Nigeria was the third country that had submitted an Expression of Interest to host the 2030 edition, the Commonwealth Sport had said in a statement back in April. However, as per reports in the Nigerian media, the country's bid — centred around the capital city of Abuja — is yet to 'take off'. Two other unnamed countries were interested, too, the governing body added without revealing details. While Canada and Nigeria are still stitching together a competitive bid, India has raced ahead with the preparations for the 2030 CWG, which the country sees as a 'test event' for the 2036 Olympic Games. Ahmedabad is the frontrunner to host both Games, with some events likely to take place in other cities as well. An Indian delegation comprising ministers and bureaucrats from the Gujarat government, the Union Sports Ministry, and the Indian Olympic Association met top Commonwealth Sport leaders in London on June 7. Following their discussions, it is learnt that the Commonwealth Sport officials will be visiting Ahmedabad in August, days before the August 31 deadline to submit the bid officially. If it happens, it will be the Commonwealth Sport officials' second visit to Ahmedabad after their first trip in late January. Canada was seen as a strong contender not just because of its proven track record of hosting big-ticket events but also due to sentimental reasons. Hamilton, Ontario had hosted the first British Empire Games, as they were called back then, in 1930. The Games' return to the port city in 2030 would have marked the 100th anniversary. The Ontario government's decision not to bid for the CWG came days after the Indian visit. According to the Canadian media, the decision was taken following a 'cost-benefit' analysis. The Hamilton Spectator reported on Wednesday that there was a 'pushback against spending big money on the Games. It further added that to make it less costly, the most recent proposal, which was submitted to the Commonwealth Sport, was to 'hold the event in multiple provinces at the same time to make use of existing facilities and eliminate many costs'. The opening or closing ceremonies, it added, were likely to be held in Hamilton. With Ontario no longer interested in hosting the event, it is unclear whether there will be a 'United Canada' bid for the 2030 CWG. The province of Alberta, too, had earlier withdrawn from the race, citing cost factors. While Canada will now have to return to the drawing board to come up with another feasible proposal, if at all there will be one, the Gujarat government had identified the 2030 CWG as one of the key events to gain hosting experience in the country's bid for the 2036 Olympics. In August, Ahmedabad will host the Commonwealth Weightlifting Championship and then the Asian Swimming Championship in October. The interest from India also comes at a time when the Commonwealth Sport has found few takers to host its flagship event. In 2022, Durban was chosen as the host but the South African city later pulled out citing financial reasons. Birmingham was then named the new host. Similarly, the Australian state of Victoria surrendered the hosting rights after winning the bid for the 2026 CWG. After a Commonwealth-wide hunt, Glasgow stepped up to rescue the Games. However, unlike the previous editions, Glasgow CWG will only be a 10-sport event with a tight cap on the number of athletes to make it affordable.
Time of India
32 minutes ago
- Time of India
FDI inflows rise to $8.8 billion in April, NRI deposit mobilisation slows
India attracted $8.8 billion in foreign direct investment ( FDI ) in April, which was 22% higher than the gross inflows in the year-ago month, helping the Reserve Bank of India rebuild the country's foreign exchange reserves amid pressure to protect the rupee from excess volatility. However, the inflows in non-resident deposits slowed, with banks collectively seeing $751 million in the first month of the fiscal year compared with $1.078 billion a year ago, according to data published by the central bank in its June bulletin. Net external commercial borrowing by Indian companies rose to $2.8 billion in April from $0.5 billion a year ago. "Overall, India's external sector remains resilient as key external sector vulnerability indicators continue to improve. We remain confident of meeting our external financing requirements," the central bank said. India's forex reserves stood at $698.95 billion at the end of June 13, compared with $665.396 billion as on March 28. RBI buys dollars from the market to build the reserves while it sells the US greenback when it wants to prevent any sharp depreciation in the local currency. The gross FDI inflows remained strong in FY25, too, rising by around 14% to $81 billion from $71.3 billion a year ago. However, net FDI inflows moderated to $0.4 billion from $10.1 billion due to rise in repatriation. "Rise in repatriation is a sign of a mature market where foreign investors can enter and exit smoothly, while high gross FDI indicates that India continues to remain an attractive investment destination," RBI said in the monthly report. On the financing side, foreign portfolio investment (FPI) to India dropped sharply to $1.7 billion in FY25, as foreign portfolio investors booked profits in equities. Non-resident deposits recorded a higher net inflow of US$ 16.2 billion in 2024-25 compared with US$ 14.7 billion a year ago.
Time of India
32 minutes ago
- Time of India
SEPC, IAMAI sign MoU to promote digital services exports
The Services Export Promotion Council ( SEPC ) and the Internet and Mobile Association of India have signed an MoU to promote India's digital services exports and strengthen the global presence of Indian digital businesses, a statement said on Wednesday. The partnership will promote international market access, address trade-related policy challenges , and build export readiness for India's emerging digital sectors, the statement said. The collaboration aims to align institutional efforts in shaping India's leadership in global digital trade , it added. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Swollen Prostate? Do This Every Morning And Feel The Change In Just Days! Health Benefits Undo SEPC has been set up by the Ministry of Commerce and Industry. The MoU envisions the establishment of joint working groups with government ministries and regulators concerned to address trade-related bottlenecks faced by digital services exporters. Live Events SEPC Director General Abhay Sinha said, "India's digital sector holds immense potential in the global services economy. Through this partnership with IAMAI , we aim to create meaningful opportunities for digital enterprises to grow their international footprint and benefit from structured policy and trade support." Internet and Mobile Association of India (IAMAI) President Dr. Subho Ray stated that the two entities will focus on promoting key high-potential verticals, including AdTech , FinTech , HealthTech , SaaS, Digital Entertainment, Edutech, Agri Summit, and Cross-Border E-commerce .
