Allied Blenders and Distillers drops distillery deal
Allied Blenders and Distillers, the third largest spirits company in India, has pulled its bid to acquire a majority stake in Good Barrel Distillery “despite best efforts”.
The Mumbai-based Indian liquor giant revealed in a letter to the National Stock Exchange of India that it would no longer be pursuing its acquisition of Good Barrel Distillery.
Allied Blenders and Distillers first announced plans to acquire the company in a letter to the Indian Stock Exchange dated 29 January 2025. The company said at the time that it would pursue a deal to acquire a 51% stake in the paid-up capital of Good Barrel Distillery Private Limited, with the option to acquire a 100% share.
In its latest stock exchange filing, the company said that “certain commercial considerations emerged” during negotiations of a deal “which required renegotiation of specific terms”.
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The letter went on to say that “despite best efforts, the parties could not reach mutually acceptable terms and hence the Board has decided not to proceed with the proposed acquisition.”
Good Barrel Distillery is an Indian spirits maker which produces Rock Paper Rum and Soci Gin, both of which launched onto the market in 2022. Founder Lalit Kalani appeared on Shark Tank India to pitch Rock Paper Rum to a panel of investors.
Kalani was successful in securing capital from one of the panel – Vineeta Singh, co-founder and CEO of Sugar Cosmetics – who offered him INR5 million (£42,500) in backing for his craft spirits business.
the drinks business has reached out to the Good Barrel Distillery founder for comment on the unsuccessful acquisition deal with Allied Blenders and Distillers.
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