Spirits major Pernod Ricard India has signed a definitive agreement to sell its Imperial Blue business division to Tilaknagar Industries, a leading player in the spirits market in India. According to various reports, the deal has been struck at an enterprise value of about $486 million. It includes a deferred payment component of US$32.95 million, which will be payable four years after the closure of the transaction.
Pernod Ricard said the sale will enable it to focus on its premium labels and support sustained, profitable growth. “As Pernod Ricard’s second-largest market, India is a strategic priority, and this realignment improves the ability to capitalize on the country’s strong macroeconomic fundamentals and long-term potential. Upon closing, the transaction is expected to be immediately and meaningfully accretive to Pernod Ricard India’s operating margin and net sales growth rate.”
Announcing the sale of the Imperial Blue business division, Alexandre Ricard, chairman and CEO of Pernod Ricard, said the deal is a strategic move to sharpen its focus on more profitable and faster-growing brands in India, like in the rest of the world.
“This transaction represents a win-win for all stakeholders involved, both at the global and local level. It fuels our ambition to succeed even further in one of our top markets. This will further streamline our operations as we continue to invest in India’s outstanding growth,” Ricard said.
Jean Touboul, CEO of Pernod Ricard India, said exiting the admix value segment will allow Pernod Ricard India to unlock further profitable growth and sharpen its focus on premiumization and innovation.
“It will enable the company to allocate resources more effectively toward high-growth brands such as Royal Stag, which has already surpassed the milestone of 30-million cases, Blenders Pride, and international brands such as Chivas, Jameson, Absolut, and Ballantine’s. Driving the next phase of growth, we are entering an exciting new chapter, one that will see bold innovations and an expanded premium portfolio tailored specifically for the evolving Indian consumer.”
The transaction is subject to the Competition Commission of India’s approval and is expected to close in the coming months.
Tilaknagar Industries said one of its primary objectives is to create a pan-India IMFL business. “The acquisition marks the company’s foray into the Indian whiskey segment,” it said in a statement on the acquisition of the Imperial Blue Business.
“Having achieved leadership in the brandy segment, it is now time for us to broaden our portfolio and cater to India’s diverse and evolving consumer base,” Amit Dahanukar, chairman and managing director, Tilaknagar Industries, said. “While we continue to grow our business organically, this strategic acquisition allows us to enter the whiskey category with one of the country’s most trusted and admired brands.”
Tilaknagar Industries is one of India’s leading alcoholic beverage companies, with a legacy spanning over 90 years. Founded in 1933 by Mahadev L. Dahanukar as Maharashtra Sugar Mills, it has, over the years, transformed into a major player in the India-made foreign liquor industry, having a manufacturing footprint of 21 units across 12 states.
Tilaknagar’s brand portfolio straddles multiple categories, featuring two ‘Millionaire’ brandy brands – Mansion House and Courrier Napoleon – along with a strong presence in whiskey, rum, and gin through Mansion House Whiskey, Madiraa Rum and Blue Lagoon Gin. Recently, the company expanded into the luxury segment with Monarch Legacy Edition Brandy.
Pernod Ricard India sells mass-market brands such as Royal Stag, Blenders Pride and 100 Pipers, and premium ones such as Chivas Regal, Ballantine’s, Glenlivet and Jameson Irish Whiskey. A report said Pernod Ricard sold 22.4 million 9-liter cases of Imperial Blue whisky in the fiscal year ended March 2025 across India and other markets.
Pernod Ricard’s portfolio of premium to luxury brands includes Absolut vodka, Ricard pastis, Ballantine’s, Chivas Regal, Royal Salute, and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Malibu liqueur, and Mumm and Perrier-Jouët champagnes.
India’s alcoholic beverage (alcobev) industry is projected to record an 8-10% revenue growth in FY26, reaching US$61.97 billion, according to a report by CRISIL Ratings.
IndiFoodBev — authentic, impactful and influential
An English-language food and beverage processing and packaging industry B2B platform in print and web, IndiFoodBev is in its third year of publication. It is said that the Indian food and beverage industries represent approximately US$ 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
