Financial Daily from THE HINDU group of publications
Monday, Oct 13, 2003
Financial Daily from THE HINDU group of publications Monday, Oct 13, 2003 |
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Corporate
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People Top Seagram officials join Ramesh Vangal Boby Kurian
Bangalore , Oct. 12 HOW close is Mr Ramesh Vangal in making a come back into the spirits business? The question assumes significance as two top-level officials from Seagram have joined this high-profile investor, who steered PepsiCo and Seagram into India, and exited the latter earlier this year as it became part of Pernod Ricard following a worldwide transaction. Mr Kaushik Chatterjee, Vice-President — Sales and Marketing, and Mr Arun Barik, Head of Manufacturing at Seagram's Nasik plant, joined Mr Vangal at the latter's operational headquarters in Bangalore. The move by the two Seagram officials is seen as a confirmation of the industry buzz on Mr Vangal's continuing interest in the alcoholic beverage industry, sources said. Mr Vangal could not be reached for his comments. "I don't have any liquor interests now and will let you know when it happens," he had stated in a recent communication to this newspaper. Mr Vangal is currently the Chairman of Scandent Group, an IT services and BPO outfit and has refused to talk about his fresh plans for the alcoholic beverage sector. It is reliably learnt that Mr Vangal has been talks with various stakeholders - bottlers, professionals and promoter-owners - of the domestic alcoholic beverage industry. Sources said he has been scouring the market for leveraged acquisitions and strategic alliances to build a critical base in the domestic liquor, which would allow him to bring in an overseas partner. It must be mentioned that Mr Vangal had entered into negotiations with Shaw Wallace & Co to take up distribution of that company's brands in Karnataka, which recently saw wholesale liquor trade passing into Government hands. However, Shaw Wallace finally decided to handle distribution on its own.
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