Archive · 26 Aug 2026
Tilaknagar Industries Considers Another Major Spirits Acquisition After Imperial Blue
Tilaknagar Industries recently bought the Imperial Blue spirits business from Pernod Ricard.
The deal cost nearly $500 million.
Now the company says it might buy another large spirits business.
It will look for a deal that helps it grow without taking on too much financial risk.
Tilaknagar is especially interested in premium and luxury drinks.
Its revenue nearly tripled after the Imperial Blue purchase.
Other companies are also buying or investing in Indian spirits businesses.
This is happening because India’s spirits market is expected to grow quickly.
Tilaknagar Industries may pursue another acquisition comparable to its nearly $500 million Imperial Blue purchase.
Chairman Amit Dahanukar said the company is open to opportunities across spirits categories.
The company remains focused on craft spirits in the super-premium and luxury segments.
Quarterly revenue nearly tripled to Rs 10.26 billion, with Imperial Blue representing almost two-thirds of sales volume.
India’s fragmented spirits market is seeing increased consolidation as companies seek greater scale despite state-level regulations.
- Who
- Tilaknagar Industries and its chairman and managing director, Amit Dahanukar.
- What
- The company is considering another major spirits acquisition after buying Imperial Blue from Pernod Ricard.
- When
- The article does not specify when Dahanukar made the comments; the cited revenue figures cover the quarter ended June 30.
- Where
- India’s spirits market.
- Why
- To expand Tilaknagar’s portfolio and scale as consolidation accelerates in India’s fragmented liquor industry.
- Recent acquisition
- Tilaknagar Industries bought Imperial Blue from Pernod Ricard for nearly $500 million.
- Potential next deal
- The company would consider another acquisition of a similar scale if the right opportunity emerges.
- Chairman and managing director
- Amit Dahanukar.
- Quarterly revenue
- Revenue nearly tripled to Rs 10.26 billion in the quarter ended June 30.
- Imperial Blue sales contribution
- Imperial Blue accounted for almost two-thirds of Tilaknagar’s total sales volume.
- Strategic focus
- Tilaknagar is particularly focused on craft spirits in the super-premium and luxury segments.
- Market outlook
- IWSR projects India will become the world’s largest spirits market by volume by 2032, overtaking China.