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Reuters
5 days ago
- Business
- Reuters
Pernod Ricard sells Imperial Blue whisky to India's Tilaknagar for $486 million
PARIS, July 23 (Reuters) - France's Pernod Ricard ( opens new tab has agreed to sell its Imperial Blue whisky brand to India's Tilaknagar Industries ( opens new tab for an enterprise value of 412.6 million euros ($486 million), as the spirits group boosts its focus on premium labels. Pernod Ricard sold 22.4 million 9 litre cases of Imperial Blue whisky in the fiscal year ended March 2025 across India and other markets. Its sale of the brand includes a 28 million euro deferred payment due four years after the deal closes. The world's second-largest Western spirits maker by revenue after Diageo (DGE.L), opens new tab on Wednesday said the deal would be "immediately and meaningfully accretive" to Pernod Ricard India's margin and sales growth upon closing. The French group has been streamlining its business and focusing on its core portfolio of pricey, global brands amid a sector-wide downturn in sales. Chairman and CEO Alexandre Ricard said the sale would "sharpen our focus on more profitable and faster growing brands in India, as in the rest of the world". Jean Touboul, CEO of Pernod Ricard India, said the deal would notably allow Pernod Ricard to allocate resources more effectively towards high-growth brands in India such as Royal Stag and Blenders Pride, as well as international brands like Chivas, Jameson, Absolut and Ballantine's. Pernod Ricard sees India, the group's second-largest market after the United States, as key to future growth. Alcohol sales in India are projected to hit $61.35 billion in fiscal 2025–26, showed data from analytics firm CRISIL. Imperial Blue, a leading mass-market whisky, competes with United Spirits' McDowell's No.1 in India. Pernod Ricard regards it as a local-value brand, less central than its premium global labels like Chivas Regal. For Tilaknagar Industries, a dominant player in India's brandy market with Mansion House, the deal marks a strategic shift into whisky - a faster-growing, higher-margin segment. Earlier this month, Reuters reported that Inbrew Beverages and Tilaknagar Industries each sought to bid around $500 million for Imperial Blue. Global spirits makers are reworking strategies as post-pandemic liquor demand slumps amid inflation, interest rate hikes, tariff risk and shifting consumer habits. ($1 = 0.8491 euros)
India.com
6 days ago
- Business
- India.com
This Indian company buys popular whiskey brand Imperial Blue for Rs 41500000000, biggest deals in India's liquor business, it is..., famous for...
Tilaknagar Industries is buying the popular whiskey brand Imperial Blue . The company has signed a final agreement with the Indian arm of French liquor giant Pernod Ricard to purchase the Imperial Blue business for Rs. 4,150 crore. Tilaknagar is already well-known for making Mansion House brandy, which is the best-selling brandy in India and the second-largest brandy brand in the world. The company said that buying Imperial Blue is a big step toward building its business across India in the IMFL (Indian Made Foreign Liquor) market. According to the company, 'This deal marks our entry into the Indian whiskey market. With this move, we will now be a key player in both major IMFL categories, brandy and whiskey.' They also said that the deal will help them grow their premium product range and make their supply network across the country even stronger. What did Pernod Ricard say about the deal? Pernod Ricard called this deal an important part of reshaping its product lineup. The company said, 'Selling Imperial Blue will allow us to focus more on premium brands in fast-growing markets like India. This move will also help improve our profit margins and boost our overall sales.' Chairman and CEO Alexandre Ricard said, 'This deal fits perfectly with our global plan—to focus on faster-growing and more profitable brands. It will also help us grow even stronger in an important market like India.' Deal not yet final, some approvals still needed The deal between Tilaknagar Industries and Pernod Ricard is not fully complete yet. It still needs approval from the Competition Commission of India (CCI). The deal is expected to be fully completed in the coming months. Back in December 2023, reports had said that both Tilaknagar and Inbrew Beverages were in the final race to buy Imperial Blue. Global investment firm Goldman Sachs acted as the advisor for Pernod Ricard in this deal. Tilaknagar's shares jump After news of the deal came out, Tilaknagar Industries' stock price went up sharply. In the last one month alone, the company's shares have jumped nearly 31 per cent. Tilaknagar already has a range of liquor brands in its portfolio, such as Mansion House Gold Barrel whiskey , Blue Lagoon gin , and Madira Gold Dark XXX rum . Big deals in India's alcohol industry This is one of the biggest deals in India's liquor business. Earlier in 2022, United Spirits (the Indian unit of Diageo) sold 32 brands, including Haywards , Old Tavern , and Green Label , to Inbrew Beverages for USD 106 million. Before that, the biggest deal in the Indian liquor industry happened in 2014, when Diageo bought United Spirits for about USD 1.9 billion.
Time of India
24-07-2025
- Business
- Time of India
Tilaknagar buys Imperial Blue for Rs 4k cr from Pernod Ricard
Representative image MUMBAI: Tilaknagar Industries, maker of Mansion House brandy is acquiring the Imperial Blue business from the Indian unit of French liquor giant Pernod Ricard in a Rs 4,150-crore all-cash deal to "fast-track" its foray into the whisky segment. The transaction includes deferred payment of Rs 282 crore, to be paid four years after the deal, which is expected to close in six months, the company said in a late night filing on Wednesday. The acquisition, pegged to be the largest in the local alcoholic beverages space by an Indian company, will allow Tilaknagar, which has a big share in brandy space to build a strong whisky portfolio across premium price-points, tapping into growing premiumisation trend besides expanding its distribution reach. Imperial Blue, for which India is the biggest market with over 90% of its sales, is the third-largest whisky brand in the country by volume. With a sales volume of 22.4 million cases, Imperial Blue accounts for about a 9% volume share in the whisky category. To give a broader perspective of the whisky market, about 79 million cases are sold annually in India. "Having achieved leadership in the brandy segment, it is now time for us to broaden our portfolio and cater to India's diverse and evolving consumer base. While we continue to grow our business organically, this strategic acquisition allows us to enter the whisky category with one of the country's most trusted and admired brands," said Amit Dahanukar, chairman and MD at Tilaknagar Industries. For Pernod Ricard, the sale of the Imperial Blue business will allow it to sharpen its focus on more profitable and faster growing brands in India., like in the rest of the world, said chairman and CEO Alexandre Ricard. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
23-07-2025
- Business
- Time of India
Pernod Ricard sells Imperial Blue whisky to India's Tilaknagar Industries
Pernod Ricard said on Wednesday it had agreed to sell its Imperial Blue whisky business to Indian liquor maker Tilaknagar Industries , as the French spirits group boosts its focus on premium labels in its portfolio. The world's No. 2 Western spirits maker did not disclose the value of the deal, but said that on completion it was expected to be "immediately and meaningfully accretive" to Pernod Ricard India's operating margin and net sales growth rate. Explore courses from Top Institutes in Please select course: Select a Course Category others MCA PGDM Artificial Intelligence Public Policy Leadership Digital Marketing Design Thinking Technology healthcare Cybersecurity Finance Others Operations Management Data Analytics Data Science Project Management Healthcare Product Management MBA Management CXO Degree Data Science Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT - ISB Cybersecurity for Leaders Program India Starts on undefined Get Details The transaction is subject to approval from the competition commission of India, and is expected to close within the coming months, Pernod Ricard said in a statement. The news comes as the French group looks to streamline its business and focus on its core portfolio of pricey, global brands amid a sector-wide downturn in sales. Pernod Ricard Chairman and CEO Alexandre Ricard said the sale would "sharpen our focus on more profitable and faster growing brands in India, as in the rest of the world". Live Events Jean Touboul, CEO of Pernod Ricard India, said it would notably allow Pernod Ricard to allocate resources more effectively towards high-growth brands in India such as Royal Stag, Blenders Pride, as well as international brands like Chivas, Jameson, Absolut, and Ballantine's. Pernod Ricard sees India, the group second-largest market, as key to future growth. Alcohol sales in India are projected to hit $61.35 billion in fiscal 2025-26, according to CRISIL. Imperial Blue, a top-selling mass-market whisky, competes in India with the likes of United Spirits' McDowell's No.1. Pernod Ricard views it as a local, value brand, and therefore not as central to its strategy as pricier, global labels like Chivas Regal. For Tilaknagar Industries , a dominant player in India's brandy market with Mansion House, the deal marks a strategic shift into whisky, a faster-growing, higher-margin segment. Tilaknagar Industries has been in turnaround mode, returning to profit after debt restructuring and widening distribution.
Business Wire
23-07-2025
- Business
- Business Wire
Pernod Ricard India to Sell Its Imperial Blue Business Division to Tilaknagar Industries
PARIS--(BUSINESS WIRE)--Regulatory News: Pernod Ricard (Paris:RI) is pleased to announce the signing by Pernod Ricard India Private Limited (Pernod Ricard India) of a definitive agreement to sell its Imperial Blue business division to Tilaknagar Industries Ltd (TI), a leading player in the spirits market in India. This sale strengthens Pernod Ricard India's portfolio, enabling the business to fully tap into premiumization trends and support sustained, profitable growth. As Pernod Ricard's second-largest market, India is a strategic priority, and this realignment improves the ability to capitalize on the country's strong macroeconomic fundamentals and long-term potential. Upon closing, the transaction is expected to be immediately and meaningfully accretive to Pernod Ricard India's operating margin and net sales growth rate. Pernod Ricard's active portfolio management is a key contributor to its dynamic growth across categories and geographies. The transaction is the result of the Group's continuous assessment of its strategic opportunities, in line with its long-standing commitment to deliver sustainable value to its shareholders, employees, clients and partners. Alexandre Ricard, Chairman and CEO of Pernod Ricard, stated: 'We are pleased to announce the sale of the Imperial Blue business division, a strategic move to sharpen our focus on more profitable and faster growing brands in India, like in the rest of the world. This transaction represents a win-win for all stakeholders involved, both at the global and local level. It fuels our ambition to succeed even further in one of our top markets. This will further streamline our operations as we continue to invest in India's outstanding growth.' Jean Touboul, CEO of Pernod Ricard India added: 'By exiting the Admix Value segment, this disposal will allow Pernod Ricard India to unlock further profitable growth and sharpen its focus on premiumization and innovation. It will also enable the company to allocate resources more effectively toward high-growth brands such as Royal Stag, which has already surpassed the 30-million cases milestone, Blenders Pride, and international brands like Chivas, Jameson, Absolut, and Ballantine's. Driving the next phase of growth, we are entering an exciting new chapter, one that will see bold innovations and an expanded premium portfolio tailored specifically for the evolving Indian consumer.' The transaction remains subject to the approval from the Competition Commission of India, and closing is expected to occur within the coming months. About Pernod Ricard Pernod Ricard is a worldwide leader in the spirits and wine industry, blending traditional craftsmanship, state-of-the-art brand development, and global distribution technologies. Our prestigious portfolio of premium to luxury brands includes Absolut vodka, Ricard pastis, Ballantine's, Chivas Regal, Royal Salute, and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Malibu liqueur and Mumm and Perrier-Jouët champagnes. Our mission is to ensure the long-term growth of our brands with full respect for people and the environment, while empowering our employees around the world to be ambassadors of our purposeful, inclusive and responsible culture of authentic conviviality. Pernod Ricard's consolidated sales amounted to € 11 598 million in fiscal year FY24. Pernod Ricard is listed on Euronext (Ticker: RI; ISIN Code: FR0000120693) and is part of the CAC 40 and Eurostoxx 50 indices. About Tilaknagar Industries Limited Tilaknagar Industries is one of India's leading alcoholic beverage companies, with a rich legacy spanning over 90 years. Founded in 1933 by Shri Mahadev L. Dahanukar as Maharashtra Sugar Mills, TI has, over the years, transformed into a major player in the India Made Foreign Liquor ('IMFL') industry having a manufacturing footprint of 21 units across 12 states. TI's brand portfolio straddles multiple categories, featuring two 'Millionaire' brandy brands – Mansion House and Courrier Napoleon – along with a strong presence in whisky, rum, and gin through Mansion House Whisky, Madiraa Rum and Blue Lagoon Gin. Recently, TI has expanded into the luxury segment with Monarch Legacy Edition Brandy
