Tilaknagar Industries (TI) has officially completed its landmark acquisition of Imperial Blue (IB) from Pernod Ricard India in a ₹3,442-crore slump sale-one of the largest transactions ever in the Indian alco-bev sector. The deal positions TI to rapidly scale its presence and build a pan-India IMFL powerhouse, with a deferred €28 million payment due in 2029.
The transaction gives TI ownership of the Imperial Blue brand and associated global trademarks, including Imperial Black and Imperial Red. During transition, TI will continue using the Seagram’s name under a licensing agreement.
Financing for the acquisition was secured through a mix of internal accruals, fresh equity, and external debt. TI raised ₹2,093 crore via preferential allotments to investors and promoters, alongside ₹2,100 crore in term loans. The Competition Commission of India approved the deal earlier in October 2025.
Imperial Blue, India’s third-largest whisky brand by volume-with 22.4 million cases sold annually and revenues of ₹3,067 crore-significantly expands TI’s reach in the Prestige & Above whisky category. As part of the acquisition framework, TI will integrate long-term supply agreements with Chivas Brothers for key raw materials and has entered a Transitional Services and Manufacturing Agreement with Pernod Ricard India to ensure operational continuity.
Assets acquired include manufacturing facilities, sub-leased units, select shared plants, and the onboarding of 116 employees.
Chairman and Managing Director Amit Dahanukar said the acquisition accelerates TI’s premiumisation strategy and positions the company to build a stronger national footprint across key IMFL price tiers.
