Delhi, November 25: India's most popular packaged water company Bisleri is going to be bought by Tata Consumer Products Ltd. Reports said that Tata Group is about to buy Bisleri for Rs 7,000 crore. According to a report in Economic Times, companies like Nestle and Reliance were also in line to buy the company, but Ramesh Chauhan, owner of Bisleri, decided to hand over his company to Tata. The decision to sell the company he had bought in 1969 for Rs 4 lakh was not an easy one, said Ramesh Chauhan. 

The Tata Group operates its consumer business under Tata Consumer Products Ltd (TCPL) which also sells packaged mineral water under the brand Himalayan and with brands as Tata Copper Plus Water and Tata Gluco in the hydration segment. Tata Group in Talks With Wistron To Build Apple iPhones in India: Report

Livemint reported that Chauhan has said that deal is not yet finalised and he is still scouting for a buyer for his packaged water business. Chauhan, who launched Bisleri in 1969 as per the company's website, is known for creating famous homegrown soft-drink brands, including ThumsUp, Gold Spot, Citra, Maaza and Limca. He sold the soft-drinks portfolio to Coca-Cola in 1993.

The Tata Group in a regulatory filing said that it is in discussion with Bisleri International, for growth and expansion of the business of the company. Tata Group Warns People of Fake Links Circulating on Social Media for Its 150th Anniversary Celebrations, Urges People Not To Forward Such Misleading Messages

Bisleri is a market leader in packaged water segment. It competes with Coca-Cola Co's Kinley, PepsiCo Inc's Aquafina, Bailley from Parle Agro and Indian Railway Catering and Tourism Corporation (IRCTC)'s Rail Neer.

(The above story first appeared on LatestLY on Nov 25, 2022 12:48 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).