Tilaknagar Industries Limited has informed the Exchange regarding a press release dated July 23, 2025, titled "Tilaknagar Industries to Acquire Imperial Blue Business Division from Pernod Ricard India".
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Tilaknagar Industries (TI) has signed a definitive agreement to acquire Pernod Ricard India's Imperial Blue (IB) whisky business via a slump sale at an enterprise value of €412.6 million (approx. ₹4,150 crore), plus a deferred payment of €28 million (₹282 crore) due four years after closure. Imperial Blue is India's 3rd largest whisky brand by volume, selling 22.4 million cases and generating ₹3,067 crore in revenue for FY25. The deal will more than double TI's size, taking combined volumes to 34 million cases and making TI a pan-India player across brandy and whisky. TI will fund the acquisition through a mix of debt and equity; closure is expected in about six months, subject to Competition Commission of India approval. Advisors include Deutsche Bank, Avendus Capital, Crawford Bayley, W.S. Kane, and Deloitte.
Transformative deal for TI — it nearly triples the company's revenue base and instantly makes it a top-3 whisky player in India. Expect near-term share price volatility and equity dilution risk since TI is raising fresh equity, but the acquisition could materially boost long-term earnings if integration goes well.