Tilaknagar Industries acquires IFB Agro's liquor business.

Tilaknagar Industries, a manufacturer of diversified Indian-made foreign liquor (IMFL) brands and known for its flagship brandy labels, has acquired the complete IMFL business of the Kolkata-based IFB Agro. The former is keen to consolidate its position in India's 300-million cases IMFL market.

The boards of both the companies have approved the acquisition, paving the way for the transfer of all the IMFL brands from IFB Agro's portfolio into that of Tilaknagar Industries (TI).

The deal has ensured that TI has brought into its fold IFB Agro's vodka brand 'Volga' and 'Blue Lagoon' gin - two brands popular in West Bengal, Assam and Odisha.

TI manufactures markets and sells more than 40 brands across all price points. IFB Agro Industries is engaged in the business of manufacturing alcohol, bottling of branded alcoholic beverages as well as packed marine foods.

The acquisition is set to expand the existing IMFL product brand line of TI and add some premium brands such as Leonov, Russki (vodka), Goldcup, Benjamin (brandy), Jubilation (Rum), 3 Cheers (Whisky) and Baluba (Rum), which are currently manufactured by IFB Agro.

According to the terms of the agreement executed between the two companies, the trademarks of all IMFL brands of IFB Agro stand transferred to TI. TI would also take over all the employees working in the IMFL division of IFB Agro, the company said in a statement.


HBL