Tilaknagar Industries Ltd (TI), which manufactures diversified Indian-made-foreign-liquor (IMFL) brands with flagship brandy labels Mansion House and Courrier Napoleon, has acquired the complete IMFL business of the Kolkata-based IFB Agro for an undisclosed amount.
IFB Agro Industries is engaged in the business of manufacturing alcohol, bottling of branded alcoholic beverages as well as processed marine foods for domestic and export markets. With this acquisition, TI has brought into its fold IFB Agro’s Vodka brand ‘Volga’ and ‘Blue Lagoon’ Gin — two of the most popular brands in the Eastern Indian markets of West Bengal, Assam and Odisha.
This acquisition is set to expand the existing IMFL product brand line of Tilaknagar Industries and add some of the other premium brands like Leonov, Russki (Vodka), Goldcup, Benjamin (Brandy), Jubilation (Rum), 3 Cheers (Whisky) and Baluba (Rum) those are currently manufactured by IFB Agro.
This strategic acquisition will further help the company strengthen its presence in Eastern Indian markets and offer a diversified portfolio of liquor, particularly white spirit products.
According to the terms of the agreement executed between the two companies, the trademarks of all IMFL brands of IFB Agro stands transferred to TI. TI has also taken over all the employees working in the IMFL division of IFB Agro. This is the second such acquisition by the company which said that it was on the lookout for some more. The IMFL segment stands at around 31 lac cases a month for the eastern region. The company said that although the market was stagnant, for the last two years Tilaknagar was growing at an average of 50 per cent year-on-year in the East.
