Allied Blenders to acquire Tilaknagar Industries
Allied Blenders & Distillers (ABD) is reportedly in final discussions to acquire a controlling stake in Tilaknagar Industries, owner of Mansion House brandy.
Rumours are circulating that ABD is in final discussions to acquire Tilaknagar Industries, owner of Mansion House brandyAmit Dahanukar, chairman and managing director of Tilaknagar Industries, met with Kishore Chhabria, chairman of ABD, in London on Monday to finalise the deal, according to reports by Business Insider citing two people involved in the transaction.
Ashok Wadhwa of Ambit Capital is also said to have been involved in the discussions, having been brought on board by the Dahanukar family to find a buyer for its 55% share of the company.
Share prices for Tilaknagar spiked to nearly 20% on Monday amid acquisition rumours.
The Spirits Business has contacted ABD for a comment on the alleged acquisition.
ABD has been involved in a seven-year legal battle with Tilaknagar Industries over the marketing rights for Mansion House brandy.
In August 2014, ABD bought a 50% stake in Mansion House brandy from Dutch drinks group Herman Jansen.
ABD’s Officer’s Choice Indian whisky is the largest-selling whisky brand in the world, having overtaken Johnnie Walker last year.
