Times of India Sept 11
MUMBAI: Marquee investors Carlyle Group and TPG Capital are the frontrunners to acquire a $100-million minority stake in India’s third largest distiller, Allied Blenders & Distillers (ABD), makers of Officer’s Choice whiskey, said people directly familiar with the matter.
Liquor baron Kishore Chhabria owns 95% stake in the unlisted company, with an asking valuation of at least $750 million. Industry veteran and chief executive Deepak Roy has a 5% equity interest.
ABD has mandated investment bank Ambit Holdings to advise on fund raising. The deal could end up as the most significant private equity intervention in the country’s heavily regulated and consolidating alcoholic beverage sector.
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TPG, Carlyle in talks to buy $100m Allied Blenders & Distillers stake
