Tata Consumer Products has called off its plan to acquire Bisleri International. The company has ceased negotiations with Bisleri with regard to a potential transaction and has not entered into any definitive agreement, it said.
Bisleri chairman Ramesh Chauhan said his daughter Jayanti Chauhan will head the bottled water company. Jayanti will run the company with a professional team, he said in an ET interview.
Ramesh Chauhan, 82, had earlier agreed to sell Bisleri to Tata Group for an estimated Rs 7,000 crore. However, the deal has now been called off by Tata Consumer Products.
Tata Consumer Products had begun talks with Bisleri regarding acquisition about two years ago but decided to call off the negotiations last week on 17 March.
Jayanti Chauhan, 42, is currently the vice chairperson of Bisleri. She has been involved with the business periodically over the years. The Vedika brand, part of Bisleri's portfolio, has been her focus in recent years.
Upon completing high school, Chauhan joined the Fashion Institute of Design and Merchandising (FIDM), Los Angeles. Post this, she pursued Fashion Styling at the Istituto Marangoni Milano. She also holds qualifications in Fashion Styling and Photography from the London College of Fashion.
Prior to joining Bisleri, Chauhan has been an intern at various leading fashion houses. Chauhan, popularly known as JRC, joined Bisleri at the age of 24, under the guidance of her father.
Jayanti Chauhan took charge of Bisleri's Delhi office, where she started off at grass root level. She worked on renovating the factory and bringing about the automation of various processes. Chauhan also restructured departments such as HR, Sales, and Marketing.
JRC took charge of the Mumbai office in 2011, according to the Bisleri website. Aside from working on new product development, she is involved in streamlining the operations for Bisleri Mineral Water, Vedica Natural Mineral Water from the Himalayas, Fizzy Fruit Drinks, and Bisleri Hand Purifier.
After taking the lead at Bisleri, Jayanti Chauhan will now work with the professional management team led by chief executive Angelo George.