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Tilaknagar ups stake in Indian gin maker
Mansion House Brandy maker Tilaknagar Industries has increased its stake in the producer of Indian brands Samsara Gin and Sitara Rum.
Indian spirits company Tilaknagar has upped its stake in Spaceman Spirits Lab (SSL) from 10% to 20% after investing a total of Rs 13.15 crore (US$172,104) over 18 months.
The deal also includes the option to further invest or buy shares from other shareholders if SSL hits certain targets.
Through the agreement, Tilaknagar will use its distribution network to sell Samsara Gin and Sitara Rum in certain Indian states and internationally.
Tilaknagar owns Mansion House, the world’s biggest-selling brandy, as well as Courrier Napoleon brandy, Madeira Rum and Blue Lagoon Gin.
Amit Dahanukar, chairman and managing director of Tilaknagar Industries, said the premium alcohol sector in India has seen “phenomenal growth over the past few years”.
Dahanukar continued: “While we are already the market leaders in brandy, we will look to cherry-pick every promising opportunity to broad-base our portfolio and boost revenue growth.
“We feel this investment will open new avenues for profitable participation in the crafts spirits segment.”
Founded in 2020, SSL launched India’s first pink gin under its Samsara brand.
The company is described as one of the fastest-growing craft spirits brands in India with availability in more than 10 states and global markets such as UAE, Canada, the UK, Bahrain, Nepal and Singapore.
Last year, Samsara released Vale of Paradise gin, made with botanicals from across the Kashmir valley, as part of SSL’s New World Experiment series.
SSL launched the Sitara brand in November 2023 with two expressions, Barrel Aged White Rum and Botanical Spiced Rum.
At the time, the company said it would move into vodka and Tequila after the release of Sitara.
Aditya Aggarwal, founder and managing director of SSL, added: “We are committed to creating premium craft spirits and elevating Indian spirits on the global stage.
“This association would enable us to further expand our portfolio, increase our geographic reach in India and international markets and boost our sales significantly.”
Previously, Tilaknagar Industries had invested Rs 9.75 crore (US$127,581) in SSL for an initial 10% stake.
In 2023, Spaceman Spirits Lab’s revenue and volumes skyrocketed by 164% and 86% respectively year on year.
Tilaknagar Industries further diversified its portfolio after buying a 19.5% stake in ready-to-drink shot maker Incredible Spirits in 2022.
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