In order to expand its footprint in Northern region, Mumbai-based Tilaknagar Industries Ltd (TI), one of the leading players in the Indian made foreign liquor (IMFL) industry and owners of brands such as Mansion House Brandy and Madiraa Rum, announced that it has acquired the Punjab-based bottling unit, Punjab Expo for Rs 55 million. Punjab Expo has a bottling capacity of 50,000 cases per month.
Commenting on this development of Tilaknagar Industries Ltd, chairman and managing director Amit Dahanukar said, “We are pleased with this positive development as it will enable us to grow our business operations in North India. This acquisition will aid TI in marking its presence across India and consolidating its market share. We have built a strong presence in the South and are now excited to extend our footprint in other markets pan India. We believe our diversified brand portfolio, focus on premiumisation and ongoing geographic expansion, will enable us to fortify our concerted strategy to expand whilst capitalizing new opportunities.”
Further elaborating on the acquisition, chief financial officer of the company Lalit Sethi said, “The Punjab Expo acquisition will result in synergies and is a perfect integration to our business philosophies. With the requisite equipment and infrastructure, Punjab Expo, will augment our manufacturing capacity and give us a foothold in the Northern market. In addition, we have a strong traction in the Canteen Stores Department (CSD) and a major part of the supplies are driven by demands from North India.’
“This strategic acquisition will help serve these requirements and ensure lower costs due to savings on transportation and sourcing. Moreover, with minimal additional investments, we can further enhance the capacity by 50,000 cases per month.
With TI’s inherent strength in distribution and marketing, we believe, we are ideally placed to exploit the benefits of this capacity expansion and its inroads into the new markets,” he added further.
It is worth mentioning that Tilaknagar Industries Ltd, is one of the renowned Indian Made Foreign Liquor players (including whisky, brandy, gin, rum and vodka) with presence across India. The company also exports its products to Western Africa, the Middle East, Far East and Caribbean countries.
The company manufactures, markets and sells more than 40 brands across all price points. TI’s subsidiaries are Prag Distillery (P) Ltd, Vahni Distilleries Private Limited, Kesarval Springs Distillers Pvt. Ltd. and Punjab Expo Breveries Private Limited.
