Tilaknagar Industries Ltd. (TI) has officially taken over the iconic Imperial Blue whisky portfolio from Pernod Ricard India (PRI) in a INR3,442-crore slump-sale transaction, marking one of the largest acquisitions in India’s alcoholic beverages sector.
According to regulatory disclosures, TI now owns the complete Imperial Blue business, including its well-established sub-brands Imperial Black and Imperial Red. The acquisition had received approval from the Competition Commission of India earlier this year.
A Top Three Whisky Brand Comes Into TI’s Portfolio
Imperial Blue is India’s third-largest whisky label by volume, recording sales of 22.4 million nine-litre cases and generating ₹3,067 crore in revenue in FY25. Industry analysts expect the deal to substantially boost Tilaknagar Industries’ market share in the fast-growing premium whisky segment.
Strategic Financing and Business Integration
The purchase was funded through a mix of internal accruals, a ₹2,093-crore preferential issue, ₹2,100-crore term loans, and a deferred €28-million payment scheduled for four years post-closure.
As part of the transaction, 116 Pernod Ricard employees will transition to Tilaknagar Industries. TI will also take over two owned manufacturing facilities—located in Punjab and Maharashtra—along with two sub-leased plants in Telangana and Punjab, ensuring seamless supply continuity.
A Transformational Step for Tilaknagar Industries
TI Chairman & Managing Director Amit Dahanukar described the acquisition as a catalytic step in the company’s journey toward becoming a pan-India IMFL powerhouse across whisky, brandy, and other spirits categories.
Industry watchers say the acquisition strengthens TI’s national footprint and positions it as a stronger competitor to global and domestic beverage players.
