Indian-Made Foreign Liquor (IMFL) manufacturer Tilaknagar Industries Limited (TI) is acquiring the Imperial Blue whisky business division (IB) from French liquor giant Pernod Ricard for an enterprise value of Rs 4,150 crore. The consideration includes deferred payment of €28 million (Rs 282 crore as on date), to be paid four years after the date of closure of the transaction.
This acquisition, the largest in the Indian alcoholic beverages space by an Indian company, fast-tracks TI’s foray into the whisky segment, the largest IMFL category in India. It also expands TI’s distribution reach and supports its ambition to become a truly pan-India player having strong scale across both brandy and whisky with a combined volume of 34 million 9-litre cases for the year ended March 2025.
The proposed transaction includes the acquisition of the IB, with 22.4 million 9-litre cases sold in the year ended March 2025 across India and other markets, including two owned units and services from co-manufacturing bottlers across 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 Managing Director, Tilaknagar Industries.