Indian manufactured foreign liquor maker Tilaknagar Industries Ltd on Monday said it will acquire 19.50 per cent equity stake in Pune-based startup Incredible Spirits for Rs 1 crore.
Tilaknagar Industries Ltd (TIL) said in a statement.
Incredible Spirits Pvt Ltd (ISPL) was founded in 2020 by former alco-bev industry professionals Arun Raina and Pranav Teredesai. It sells alcohol RTD products under the brand name SWIGGER.
“Today’s consumers are looking for a premium, convenient and enjoyable drinking experience that provides an alternative to alcoholic RTD beverages,” said TIL President and MD Amit Dahanukar.
The company said that the equity investment is made from its internal resources immediately after signing definitive agreements.
Alcoholic beverages and hospitality industry veteran, Manpreet Uppal is also making an investment of Rs 1 crore in ISPL on the same terms as TIL, which is known for its premium brand Mansion House.
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