Tilaknagar Industries completes Imperial Blue acquisition from PRI for Rs 3,442 cr

Through this transaction, Tilaknagar Industries gains access to the ‘Imperial Blue’ brand and allied trademarks, including ‘Imperial Black’ and ‘Imperial Red’ globally

by e4m Staff
Published: Dec 1, 2025 12:33 PM | 2 min read

Tilaknagar Industries Limited (TI) has completed the acquisition of the Imperial Blue business division (IB) from Pernod Ricard India Private Limited (PRI) via a slump sale for a lump-sum consideration of Rs 3,442 crore. The lump sum consideration paid to PRI is further subject to post-closing adjustments in accordance with the terms and conditions set out in the Business Transfer Agreement.

In addition to this amount, a deferred payment of €28 million will be made after four years from the date of closure of the transaction (i.e., November 30, 2029). The acquisition has been funded through a mix of internal cash accruals, fresh equity and external debt.

A preferential issue of equity shares and warrants to marquee investors and the Promoter Group helped raise Rs 2,093 crore, in addition to securing Rs 2,100 crore through term loans. The Competition Commission of India (CCI) had approved the transaction on October 07, 2025.

Through this transaction, TI gains access to the “Imperial Blue” brand and allied trademarks, including “Imperial Black” and “Imperial Red” globally. Additionally, as part of the acquisition, TI has entered into a Trademark License Agreement for the use of “Seagram’s” in connection with IB for a defined transition period.

The company has also entered into a long-term supply agreement with Chivas Brothers for Concentrated Alcoholic Beverage (CAB). To ensure a seamless transition, TI has entered into a Transitional Services and Manufacturing Agreement (TSMA) with PRI. The manufacturing footprint, as part of the transaction perimeter, includes two owned units located in Punjab and Maharashtra, as well as two exclusive sub-leased units in Telangana and Punjab.

Additionally, TI will have access to certain shared units during the TSMA period. Also, as part of the transaction, 116 employees are expected to be transferred from PRI to TI.

Amit Dahanukar, Chairman and Managing Director, Tilaknagar Industries Limited, said, “The acquisition of Imperial Blue significantly scales up our business, representing a decisive step in our ambition to build a truly pan-India presence across all IMFL categories. This acquisition also accelerates our premiumisation journey, enabling us to
broaden our offerings across P&A price-points and enhance the value we deliver to consumers.”