Tilaknagar Industries completes acquisition of Imperial Blue business

Tilaknagar Industries announced on December 1, 2025, the successful completion of its acquisition of the business undertaking of Pernod Ricard India Private Limited related to the Imperial Blue Brands. This acquisition, approved by the company's board of directors on July 23, 2025, involves the production, bottling, marketing, and sale of alcoholic and other beverages under the Imperial Blue Brands. Economic ownership transferred to Tilaknagar Industries effective December 1, 2025.

The lump sum consideration remitted to Pernod Ricard India Private Limited was INR 3,442.34 crores, based on estimated closing adjustments. The deal also includes a deferred consideration of €28 million, payable four years from the transaction's closure date (November 30, 2029). The acquisition, completed on a slump sale basis, received approval from the Competition Commission of India on October 7, 2025.

This strategic move aims to establish Tilaknagar Industries as a leading player in India's Indian Made Foreign Liquor (IMFL) market, particularly in the whisky segment. The Imperial Blue brand, with a sales volume of 22.4 million cases in the period of April 2024 to March 2025, commands approximately 9% of the whisky category and operates across 27 states and union territories.