Tilaknagar to invest in Bartisans

Tilaknagar Industries Limited  has announced a strategic investment of Rs 8 crore, through a mix of primary investment and secondary acquisition, to own a significant minority stake in Round the Cocktails Private Limited ("RTC" or "Bartisans"), the makers of "ready-to-pour" premium mixer brand, Bartisans.

Post this investment, Tilaknagar Industries will hold a 36.17 percent share of the equity share capital on a fully-diluted basis. The founders of Bartisans will continue to own 56.54 percent share of the equity share capital on a fully-diluted basis, with the balance being the pool created for the Employee Stock Ownership Plan.

Further, upon Bartisans achieving certain pre-agreed milestones, the definitive agreements provide an option for Tilaknagar Industries to invest or acquire further shares held by other shareholders as per a pre-determined valuation methodology.

Amit Dahanukar, Chairman and Managing Director, Tilaknagar Industries, said, "Our investment is driven by the emergence of a booming cocktail culture in India, paired with the growing trend of 'at-home' drinking in a convenient setting. Through this association we also see strong synergies with our existing premium brandy as well as our soon-to-be-launched luxury portfolio. We look forward to working closely with Bartisans for co-creating innovative cocktail mixers for brandy."

With its premium price point, high gross margins and high customer retention rates, Bartisans enjoys strong unit economics, enabling a diverse range of distribution channels - from direct-to-consumer to modern retail to quick commerce, Dahanukar added.