Tilaknagar Industries Ltd. (NSE: TI) announced an investment of ₹8.03 crore in Round the Cocktails Private Limited, also known as Bartisans, a ‘ready to pour’ beverage company specializing in non-alcoholic mixers for cocktails and mocktails. The investment was approved during the Finance Committee meeting held on September 19, 2024.
As part of the investment, Tilaknagar Industries will subscribe to 2,352 Compulsory Convertible Preference Shares (CCPS) and 1 equity share, amounting to 13.52% of Bartisans’ share capital, for ₹3 crore. Additionally, the company will purchase 163 equity shares and 3,781 CCPS from existing shareholders, increasing its stake to 22.65% for ₹5.03 crore. In total, Tilaknagar Industries will own 36.17% of Bartisans on a fully diluted basis.
Bartisans, founded in 2021, is a growing player in the cocktail mixer market, offering 17 unique flavors. The company reported sales of ₹3.5 crore for FY23-24. This investment aligns with Tilaknagar’s goal to tap into India’s burgeoning cocktail culture and explore synergies with its existing portfolio of brandy and Indian Made Foreign Liquor (IMFL) brands.
The acquisition is expected to be completed by November 15, 2024.