Puttur-based Bindu beverages declines Reliance offer to buy its company

Reliance Industries which recently forayed into the FMCG space evinced interest in acquiring the Puttur-based Bindu beverages owned by SGcorporates.

As per an ET report apart from Bindu Beverages, the Reliance group is also in talks to buy brands such as Garden Namkeens from CavinKare and Lahori Zeera.

Earlier last week the company acquired the soft drink brand Campa from Delhi-based Pure Drinks Group.

Mr. Sathya Shankar’s SG corporate came into existence with his visionary thinking and subsequent diversion of his auto finance business into the F&B industry with the launch of the packaged drinking water brand Bindu Mineral Water in the year 2000. Later in 2002, the company launched its flagship brand – Bindu Fizz Jeera Masala.

The corporate now has two subsidiaries namely — Praveen Capital Pvt Ltd. and Megha Fruit Processing Pvt Ltd both headquartered in Puttur.

Speaking to Udayavani, Mrs. Ranjitha Shankar, the executive director of SG Corporates confirmed getting an offer from Reliance Industries. However the corporate has declined the offer, she asserted.