INDIA: Tilaknagar Industries confirms interest in IFP Agro brands
Tilaknagar said no "conclusive" development has been reached
Tilaknagar Industries has confirmed it is looking at “certain brands” of IFB Agro, but added that no “conclusive” deal has been made.
The comments follow Indian media reports yesterday that the Mansion House brandy owner has agreed with IFB to purchase vodka brand Volga and Blue Lagoon gin. A Business Standard report said an agreement was signed last week.
But in a statement to just-drinks today (17 December), a Tilaknagar spokesperson said that despite an assessment of the IFB Agro brands, “there is no conclusive development on the same”.
The spokesperson added: “Should there be any concrete development on the matter, the company will make a formal communication at an appropriate time.”
In August, Indian media reported that Suntory and Pernod Ricard were both considering a move to buy a 15% to 20% stake in Tilaknagar.
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