Pernod Ricard India to Sell Imperial Blue Business Division to Tilaknagar Industries

Cleary Gottlieb is representing Pernod Ricard in the sale by Pernod Ricard India Private Limited of its Imperial Blue business division to Tilaknagar Industries Ltd, a leading player in the spirits market in India.

This sale strengthens Pernod Ricard India’s portfolio, enabling the business to fully tap into premiumization trends and support sustained, profitable growth. As Pernod Ricard’s second-largest market, India is a strategic priority, and this realignment improves the ability to capitalize on the country’s strong macroeconomic fundamentals and long-term potential. Upon closing, the transaction is expected to be immediately and meaningfully accretive to Pernod Ricard India’s operating margin and net sales growth rate.

The transaction was announced on July 23, 2025. Closing remains subject to the approval from the Competition Commission of India, and is expected to occur within the coming months.