Tilaknagar Industries acquires IFB Agro’s IMFL business

Tilaknagar Industries Ltd, the maker of Mansion House brandy and Madira rum, said on Wednesday that it had acquired the liquor business of IFB Agro Industries Ltd for an undisclosed amount.

Boards of the two companies have approved the transaction, which will allow the transfer of all the so-called India made foreign liquor (IMFL) brands of IFB Agro to Tilaknagar Industries. The brands include Volga vodka and Blue Lagoon gin—two of IFB Agro’s most popular brands in the eastern Indian markets of West Bengal, Assam and Odisha.

“Coming up as a dominant IMFL player of south Indian market, we will now consolidate our position in eastern Indian market too,” Laxmi Narasimhan K., deputy managing director of Tilaknagar Industries, said in a statement.

“We hope to enhance sales of the newly acquired brands to 1 million cases per annum and improve our topline sales by over 10%,” he added.

Tilaknagar Industries shares ended at ₹ 56.45 on the BSE on Wednesday, up 2.54% from the previous close, while the benchmark Sensex rose 0.14% to close at 21,856.22 points. The announcement was made after market hours.