Leading Indian-Made Foreign Liquor (IMFL) manufacturer Tilaknagar Industries has made a follow-on investment of Rs 10.66 crore in Spaceman Spirits Lab (SSL), the maker of premium craft spirits. While Rs 9.15 crore is part of the previously announced Rs 13.15 crore investment envisaged under the September 2024 agreement between TI and SSL, the balance Rs 1.51 crore is being invested to acquire shares from some of the early shareholders in SSL.
This announcement comes close on the heels of spirits major Pernod Ricard India signing a definitive agreement to sell its Imperial Blue business division to Tilaknagar Industries at an enterprise value of about $486 million.
With this investment, TI’s stake in SSL will increase from 12.98% to 21.36% on a fully-diluted basis. The definitive agreements further provide TI with the option to invest additional capital or acquire further stake from other shareholders at a pre-determined valuation methodology, subject to SSL achieving certain pre-agreed milestones.
Ameya Deshpande, president – strategy and corporate development, Tilaknagar Industries said, “Our continued investment in Spaceman Spirits Lab reflects our conviction in the enduring appeal of premium craft spirits in a rapidly evolving market. Their thoughtfully curated portfolio featuring Samsara Gin, Sitara Rum and Amara Vodka demonstrates innovation, quality and craftsmanship. We are excited to deepen our partnership as Spaceman enters a new phase of growth.”
According to TI, the company is subscribing to 1,772 equity shares and 11,752 Compulsorily Convertible Preference Shares for Rs 9.15 crore. Further, TI is acquiring 2,236 equity shares from existing SSL shareholders for Rs 1.51 crore.
Aditya Aggarwal, founder and managing director, Spaceman Spirits Lab, said, “We are thrilled to deepen our partnership with Tilaknagar Industries as we embark on a bold new chapter. With Tilaknagar’s extensive distribution network and industry leadership, we are excited to take our iconic brands to every corner of India.”
SSL is preparing to diversify its product portfolio with strategic forays into new categories, including whisky, heritage liqueurs and tequila. “We are anticipating robust performance in the current fiscal, with projected revenue growth of nearly 70 per cent and volume growth of about 60 per cent in FY26,” Aggarwal added.
In addition to the portfolio expansion, SSL and TI will also benefit from the business operations under the Usership Agreement between SSL and TI. As per the agreement, Tilaknagar Industries will leverage its robust distribution network to sell Samsara Gin, Sitara Rum and Amara Vodka in certain states in India and abroad. Business under the Usership Agreement was initiated in May 2025.
IndiFoodBev — authentic, impactful and influential
An English-language food and beverage processing and packaging industry B2B platform in print and web, IndiFoodBev is in its third year of publication. It is said that the Indian food and beverage industries represent approximately US$ 900 billion in revenues which implies more than 20% of the country’s GDP. Eliminating the wastage on the farmside can help to deliver more protein to a higher number of the population apart from generating sizable exports. The savings in soil, seeds, water, fertilizer, energy and ultimately food and nutrition could be the most immense contribution that country is poised to make to the moderation of climate change.
To improve your marketing and grow sales to the food and beverage processing and packaging industry, talk to us. Our research and consulting company IppStar [www.ippstar.org] can assess your potential and addressable markets in light of the competition. We can discuss marketing, communication, and sales strategies for market entry and growth.
Suppliers and service providers with a strategy and budget for targeted marketing can discuss using our hybrid print, web, video, and social media channels to create brand recognition linked to market relevance. Our technical writers are ready to meet you and your customers for content.
The second largest producer of fruit and vegetables in the world is continuously expanding processing capacities and delivery systems with appropriate innovative technologies. We cover product and consumer trends, nutrition, processing, research, equipment and packaging from farm to thali. Get our 2025 media kit and recalibrate your role in this dynamic market. Enhance your visibility and relevance to existing markets and turn potential customers into conversations. Ask for a sample copy of our bi-monthly in print or our weekly IndiFoodBev eZine each Wednesday.
For editorial info@ippgroup.in — for advertisement ads1@ippgroup.in and for subscriptions subscription@ippgroup.in
Naresh Khanna – 10 February 2025
Subscribe Now
