Tilaknagar Industries Completes Rs 3,442 Cr Buyout of Imperial Blue

Tilaknagar Industries (TI) has completed the ₹3,442 crore acquisition of the Imperial Blue whisky portfolio from Pernod Ricard India through a slump sale deal. The transaction follows the Competition Commission of India’s approval on October 7, 2025, clearing the regulatory pathway for the takeover.

The acquisition gives Tilaknagar full rights over Imperial Blue along with related brand extensions including Imperial Black and Imperial Red. The agreement also includes a temporary licence to use the Seagram’s name during the transition period.

To finance the deal, Tilaknagar raised ₹2,093 crore through a preferential issue of shares and warrants, while the remaining value was secured via external term loans. The structure also includes a deferred payment of €28 million, payable in November 2029.

• Tilaknagar Industries Completes ₹3,442 Crore Imperial Blue Acquisition
• Tilaknagar Finalises Imperial Blue Buyout, Strengthening Whisky Portfolio
• Imperial Blue Acquisition Marks Major Expansion for Tilaknagar Industries

Imperial Blue currently stands as India’s third-largest whisky label by volume. The brand sold about 22.4 million 9-litre cases in FY25 and posted revenue of ₹3,067 crore over the twelve-month period ending March 2025. The acquisition positions Tilaknagar strongly in the high-volume whisky category and expands its presence in both mass and premium price points.

As part of the arrangement, Tilaknagar has entered a long-term supply contract with Chivas Brothers to ensure steady access to key raw materials. The company has also signed a Transitional Services and Manufacturing Agreement with Pernod Ricard to maintain operational continuity during integration.

A total of 116 Pernod Ricard employees will move to Tilaknagar as part of the business transfer. The company stated that the acquisition strengthens its portfolio reach and deepens its footprint across major IMFL markets.

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Tilaknagar’s management described the deal as a strategic move to scale its whisky segment and build a stronger nationwide presence in India’s growing alcohol beverage industry