Tilaknagar Industries Ltd Completes Acquisition of Pernod Ricard India's Imperial Blue Whisky Business for Rs 4,150 Crore

Tilaknagar Industries Ltd (TIL) announced the completion of its acquisition of the Imperial Blue whisky business division from Pernod Ricard India Pvt Ltd on November 30, 2025. The deal, structured as a slump sale, was finalized for an enterprise value of €412.6 million (about Rs 4,150 crore), which includes a deferred payment of €28 million (Rs 282 crore) payable four years after closing.

This acquisition instantly positions Tilaknagar as a significant player in India’s fast-growing whisky market, complementing its leadership in brandy with brands such as Mansion House. The Imperial Blue portfolio, with sales of 22.4 million 9-litre cases in the fiscal year ended March 2025, enhances Tilaknagar’s pan-India presence and growth ambitions in the Indian-Made Foreign Liquor (IMFL) segment.

According to Chairman and Managing Director Amit Dahanukar, the acquisition supports Tilaknagar’s mission to cater to India’s evolving consumer preferences while driving premiumisation in the whisky category. Pernod Ricard India will now focus on its faster-growing premium brands, streamlining operations in its second-largest market globally.

Key Highlights:

Acquisition of Pernod Ricard India's Imperial Blue whisky business completed for Rs 4,150 crore

Deal structure: slump sale with deferred payment of Rs 282 crore after four years

Imperial Blue sales: 22.4 million 9-litre cases (FY ended March 2025)

Significantly expands Tilaknagar’s footprint in Indian whisky and IMFL categories

Aligns with Tilaknagar’s strategy of brand portfolio expansion and market penetration

Pernod Ricard India shifts focus to premium brands for sustainable growth

Source: Pernod Ricard India, Tilaknagar Industries, Business Standard, Moneycontrol