Tata Consumer Products is planning an expansion in its own product line making substantial investments in its mineral water brands. This was reported in the media on Thursday. Tata currently owns brands like Tata Copper+ and Himalayan.
The development came following the company’s failed attempt to acquire the bottled water brand Bisleri.
Sunil D’souza CEO and Managing Director at Tata Consumer Products said, “acquiring Bisleri would have fastened our plans by three years, but we consider it as a small unsolved puzzle in our food and beverage (F&B) puzzle box.”
He emphasised the company plans to support its own brands, including Tata Copper+, Tata Gluco+, and Himalayan mineral water and stressed that the company had strong resources at its disposal and soon intends to utilise them.
“Bisleri is a fantastic brand and we believed it would have changed the growth trajectory for Tata Consumer, but now since the plan is done and dusted, we will concentrate on our other enviable brands like Tata Tea, Tetly, and Tata Salt”, D’Souza said highlighting the company’s war chest to acquire brands in the F&B space and no interest in overpaying.
He added having a strong middle-class mindset analysing the value offered at a particular price, we believe not paying for other similar brands in this space as well like Bisleri and have decided to accelerate Tata Copper+, a Rs 400-crore brand.
Meanwhile, the company had earlier also notified that the negotiations regarding Bisleri had ceased and hinted at closing the deal, but since some disagreements were not resolved, the deal was called off.