Tilaknagar Industries Invests Rs 8 Cr in Bartisans to Strengthen Presence in India’s Growing Cocktail Market

Tilaknagar Industries Limited, a leading Indian-Made Foreign Liquor (IMFL) manufacturer, has made a strategic investment of Rs 8 crore to acquire a significant minority stake in Round the Cocktails Private Limited, the company behind the premium mixer brand Bartisans. Following this investment, Tilaknagar Industries, known for being the largest premium brandy producer in India, will hold a 36.17 percent share of Bartisans’ equity on a fully-diluted basis. Bartisans' founders will retain 56.54 percent of the company, while the remaining equity will be allocated for an Employee Stock Ownership Plan (ESOP).

Tilaknagar Industries also retains an option to invest further or acquire more shares in Bartisans based on a pre-determined valuation model, should the start-up meet certain milestones.

Founded in 2021 by the mother-son duo Jovita and Jordan Mascarenhas, Bartisans offers a range of 17 all-natural cocktail mixers. The brand has achieved revenue of Rs 3.5 crore in FY24, distributing products across more than 70 cities in India.

Amit Dahanukar, Chairman and Managing Director of Tilaknagar Industries said, “Our investment is driven by the emergence of a booming cocktail culture in India, paired with the growing trend of 'at-home' drinking in a convenient setting. Through this association, we also see strong synergies with our existing premium brandy as well as our soon-to-be-launched luxury portfolio. We look forward to working closely with Bartisans for co-creating innovative cocktail mixers for brandy.”

Bartisans has positioned itself with a premium price point and enjoys strong unit economics with high customer retention rates. These advantages have enabled the brand to successfully distribute through a variety of channels, including direct-to-consumer, modern retail, and quick commerce, according to Dahanukar.

Tilaknagar Industries' Rs 8 crore investment consists of Rs 3 crore in primary funding and Rs 5 crore for secondary acquisition of shares from existing shareholders. These funds will be directed toward growth and marketing initiatives, as well as strengthening Bartisans' distribution network. Tilaknagar Industries will also nominate a director to Bartisans' board as part of the agreement.

Ameya Deshpande, President of Strategy and Corporate Development at Tilaknagar Industries said, “Bartisans has developed mixers with unique, in-house recipes that resonate with the Indian palate and add a twist for an extraordinary drinking experience. Its products evoke strong customer loyalty, a trait it shares with our leading brands, Mansion House Brandy and Courrier Napoleon Brandy. I also see this partnership contributing significantly to making brandy more fun, exciting, and aspirational.”

India’s 'Ready-to-Pour' mixer market is expected to grow significantly, with projections estimating it will reach Rs 7,000 crore ($830 million) by 2030. Globally, the cocktail mixer market was valued at $10 billion in 2023, with an expected CAGR of 9 percent, pushing the market to $21 billion by 2031.

Jovita Mascarenhas, Co-Founder of Round the Cocktails Private Limited said, “Tilaknagar Industries' expertise in the alco-bev sector, coupled with our vision for innovative cocktail experiences, creates an exciting opportunity to scale Bartisans to new heights. We are confident that this partnership will elevate our brand and expand our reach across the market.”

The investment will be funded through Tilaknagar Industries' internal cash resources, further strengthening its position in India’s evolving cocktail culture and retail sector.