Bacardi Ltd reportedly eyeing acquisitions for Indian market

Bacardi Ltd reportedly eyeing acquisitions for Indian market

Bacardi has declined to comment on a report that it is seeking acquisitions to expand its presence in India's whisky market.

The CEO of Bacardi's India business, Mahesh Madhavan, was quoted by the country's Business Standard newspaper last week as saying that the company is looking for acquisitions in dark spirits categories in the country.

A spokesperson for Bacardi declined to confirm or deny Madhavan's comments when contacted by just-drinks at the end of last week. However, the spokesperson said that the Bermuda-based drinks giant is open to acquisitions in general: "Bacardi Ltd has a great track record in acquiring and nurturing brands the world over, and always remains open-minded to any opportunities presented in the marketplace," she said.

India's spirits market is considered to have high potential, but it is dominated by dark spirits. Whisky alone constitutes around 60% of the 200m-case spirits market and Vijay Mallya's United Spirits group accounts for around two thirds of whisky sales by volume in the country.

Bacardi already has a limited presence in India's whisky sector via its John Dewar & Sons Scotch whisky subsidiary.