Key Highlights
- Tilaknagar Industries completes acquisition of Imperial Blue business division for ₹3,442 crore.
- Deferred payment of €28 million scheduled for 2029.
- Funding raised through internal accruals, equity issue and ₹2,100 crore term loan.
- Imperial Blue sells 22.4 million cases annually as third largest whisky brand in India.
- 116 employees to transition to Tilaknagar Industries.
Tilaknagar Industries Limited (TI), a leading Indian-Made Foreign Liquor (IMFL) manufacturer, has completed the acquisition of the Imperial Blue (IB) business division from Pernod Ricard India through a slump sale valued at ₹3,442 crore. The transaction includes an additional deferred payment of €28 million, payable in November 2029.
The acquisition has been financed through internal cash accruals, a preferential equity issue amounting to ₹2,093 crore, and ₹2,100 crore in term loans secured from lenders. The deal received regulatory approval ahead of closure.
Imperial Blue is recognised as India’s third-largest whisky brand, with annual sales of 22.4 million nine-litre cases and revenue of ₹3,067 crore for the twelve months ending March 2025. Through the acquisition, TI gains ownership of the Imperial Blue brand and associated trademarks, including Imperial Black and Imperial Red. TI will also be able to use the Seagram’s trademark for a defined transition period.
The transaction also includes a long-term supply arrangement for key raw materials and a Transitional Services and Manufacturing Agreement to ensure business continuity. The acquisition adds four manufacturing units to TI’s operations, including two owned facilities and two exclusive sub-leased units across Punjab, Maharashtra and Telangana. Additionally, 116 employees from the acquired business are expected to join TI.
TI’s management stated that the deal significantly strengthens the company’s national presence and accelerates its premiumisation strategy across IMFL categories, enhancing long-term value for stakeholders.
Tilaknagar Industries, with a legacy dating back to 1933, operates 21 manufacturing units across 12 states and offers a diversified portfolio across whisky, brandy, rum and gin. The company has expanded into premium and luxury segments with brands such as Monarch Legacy Edition Brandy and Seven Islands Pure Malt Whisky.