India-based distiller Tilaknagar Industries has taken a minority stake in local ready-to-serve cocktail mixers producer Round the Cocktails, which sells under the brand Bartisans.
Tilaknagar Industries is investing Rs30m ($358,608) in the business, and spending an additional Rs50m on the share acquisition.
Following completion of the deal, the group will hold a 36.17% share in Round the Cocktails. The founders of Bartisans will retain a majority share in the company.
“Our investment is driven by the emergence of a booming cocktail culture in India, paired with the growing trend of ‘at-home’ drinking in a convenient setting. Through this association we also see strong synergies with our existing premium brandy as well as our soon-to-be-launched luxury portfolio,” Tilaknagar Industries managing director and chairman Amit Dahanukar said.
“With its premium price point, high gross margins and high customer retention rates, Bartisans enjoys strong unit economics, enabling a diverse range of distribution channels, from direct-to-consumer to modern retail to quick commerce.”
Bartisans was established in 2021 by mother and son Jovita and Jordan Mascarenhas. The range consists of prepared cocktail mixers in 17 variants.
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By GlobalDataTilaknagar Industries is an Indian beverage group founded in 1933 by Shri Mahadev Dahanukar as Maharashtra Sugar Mills.
Earlier this month, Tilaknagar Industries upped its stake in local gin maker Spaceman Spirits Lab. The group increased its holding to 20% following an investment of Rs131m ($1.6m).
Founded in 2020, Spaceman Spirits’ first product was a pink gin produced under the branding Samsara. It sells internationally into the UK, Canada, UAE and Singapore.
Tilaknagar Industries’ investment in Spaceman Spirits marked its first foray into “craft” gin. The company’s own portfolio also includes Mansion House brandy and Madiraa Gold Dark XXX rum.
In 2022, the group also invested in a local RTD shot firm Incredible Spirits. Tilaknagar Industries bought a 19.5% shareholding in what it then described as the “new-age alcohol beverage company…working on developing unique and disruptive alcohol products for the Indian market”.
