Tilaknagar Industries is poised to acquire a 30% stake in compatriot Black Tiger Distilleries as the pair look to capitalise on India’s “meaningful part” in the growth of the tequila category.
Mumbai-based Black Tiger, which launched its Bodega Suprema No 5 line of tequilas in the country last month, will sell almost a third of its ownership to the IMFL (Indian-made foreign liquor) giant over the next 12 months.
The transaction has been structured in two parts – Tilaknagar will hand over INR220m (US$2.3m) to founder Mohnish Mehta in the first instance. Then, at an unspecified point in the coming year, INR16m will change hands, bringing Tilaknagar’s holding up to 30%.
“As we built Black Tiger Distilleries, finding the right partners with deep category expertise and a strong understanding of the Indian spirits markets was key,” said Mehta. “With Tilaknagar Industries’ support, we see an opportunity to make authentic 100% blue weber agave tequila more accessible to Indian consumers at a compelling premium price point.
“Bodega Suprema No 5 is the first step in building that proposition and introducing it to consumers across India.”
The brand’s trio of iterations (above) is produced in Mexico by Productos Finos de Agave.
In July last year, Tilaknagar spent an undisclosed sum on buying the Imperial Blue whisky brand from Pernod Ricard. Imperial Blue is a blend of Indian grain spirits and imported scotch malts that was launched by Seagram in India in 1997, before Pernod Ricard purchased it in 2002.
