INDIA: The mineral water company Bisleri, which has become a household name, recently made a deal with Tata Consumer Products Ltd. (TCPL) earlier this year. However, the deal was later called off by Tata Consumer due to “indecisiveness”.
Ramesh Chauhan is the head of Bisleri International. His daughter, Jayanti Chauhan, has decided to run the company.The 42-year-old currently serves as vice chairperson of the company and will further work with the professional management team, besides chief executive Angelo George. Jayanti Chauhan is the only daughter of Ramesh Chauhan.
The business tycoon’s daughter was earlier not convinced of taking over the family business. However, now, Bisleri chairman Ramesh Chauhan, in his latest statement, said, “Jayanti will run the company with our professional team, and we do not want to sell the business.”
The owner of India’s largest packaged water company had earlier agreed to sell the brand to Tata Group, and the deal was finally locked at Rs 7,000 crore. But, now the business will be kept safe by the Chauhans. If reports are to be believed, Tata Consumer entered into discussions with Bisleri about two years ago but decided to call off the negotiations last week.
The legal heir of Bisleri has been working on expanding Bisleri’s Vedika brand. In his statement, Bisleri CEO George said, “We at Bisleri are focused on the task at hand in the company, and we have a vision plan for four years and we are completely focused on that. Secondly, the largest initiative that has occurred is improving our entire sustainability initiatives on the ground. As we speak we are one of the first FMCG companies in India to be plastic neutral, and we have recycled more plastic than we have put in the market. We are water positive that is we replenish more water into the ground than what we draw.”
“The company wishes to announce that it has now ceased negotiations with Bisleri with regard to a potential transaction and to confirm that the company has not entered into any definitive agreement or binding commitment on this matter,” he added.
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