In an estimated 7,000-8,000 crore deal, Bisleri International Chairman Ramesh J Chauhan is selling the brand to Tata Consumer Products Ltd (TCPL). As part of the deal, current management will continue for two years.

The Tata group is expected to purchase Bisleri for about Rs 8,000 crore

The 82-year-old Chauhan has been in poor health recently, and he says he lacks a successor to carry Bisleri forward. Chauhan reported that his daughter Jayanti is not too keen on the business.

With approximately 32 percent market share, Bisleri is India’s largest packaged water company. Despite the “painful” decision to sell Bisleri, Chauhan believes the Tata Group will “nurture and care for it even better.” “I am drawn to the Tata culture of values and integrity, so I made my decision despite the aggressive approach of other bidders,” Chauhan said.

There have been several suitors for Bisleri at various times, including Reliance Retail, Nestle, and French multinational Danone.

Following a meeting with Sunil D’Souza, CEO of Tata Consumer, and chairman of Tata Sons, N Chandrasekaran, a few months ago, he made up his mind. Tata already has products like Tata Copper Plus Water and Himalayan Natural Mineral Water on the market for bottled water. Following Chauhan’s announcement, Tata Consumer Products shares increased by 3% in morning trading.

The market for bottled water in India is expected to be worth over Rs 45,000 crore, and in the following five years, it is anticipated to grow at a rate of 4.8 percent annually.