Tilaknagar Industries (TI) is raising a glass to tequila, investing ₹22 crore in Black Tiger Distilleries (BTD), the Indian spirits company behind Bodega Suprema No. 5. The deal will give TI a 30% stake on a fully diluted basis.
TI will invest ₹6 crore in the first tranche, followed by ₹16 crore within 12 months. The move marks the company’s first entry into tequila and its third strategic investment in an emerging beverage business.
According to IWSR, India is the world’s fastest-growing major tequila market, with volumes growing at around 60% CAGR between 2020 and 2025. The category is expected to grow at a 13% CAGR through 2030, driven by premiumisation, cocktail culture and new drinking occasions.
BTD was founded by Mohnish Mehta, with support from Mexico-based Productos Finos de Agave and Mansha Group of Companies. Its flagship Bodega Suprema No. 5 is a 100% Blue Weber Agave tequila, priced at ₹4,200–₹5,500 per bottle.
“What excites us about Bodega Suprema No. 5 is the opportunity to enter a category we see as an emerging trend with significant long-term potential. As we build House of TI into a more comprehensive luxury portfolio, having a presence in tequila is an important part of that evolution, alongside categories such as whisky, brandy, gin, rum and vodka. It allows us to bring our experience in building premium spirits into a category with strong consumer interest, while creating a more diverse portfolio that reflects how drinking preferences in India are evolving,” said Sanaya Dahanukar, General Manager – Growth & Innovation, Tilaknagar Industries.
Beyond capital, TI will support BTD across distribution, sales, marketing, supply chain, finance and regulatory functions, leveraging its pan-India footprint and premium spirits expertise.
“Tequila represents an exciting opportunity for us to participate in a category that is still at an early stage of development in India, but has strong potential to grow. With Bodega Suprema No. 5 positioned at ₹4,200–₹5,500, we see an opportunity to bring authentic 100% agave tequila to a wider premium consumer base while building the category with the right focus on provenance and quality. Our role is to bring our experience in building beverage brands and our understanding of the Indian market, while enabling Black Tiger Distilleries to build a distinctive tequila proposition for India,” said Ameya Deshpande, Chief Strategy Officer, Tilaknagar Industries.
For BTD, the partnership is aimed at making authentic 100% Blue Weber Agave tequila more accessible to Indian consumers while building the category beyond its existing price points.
Mohnish Mehta, Founder, Black Tiger Distilleries, said, “As we built Black Tiger Distilleries, finding the right partners with deep category expertise and a strong understanding of the Indian spirits markets was key. With Tilaknagar Industries’ support, we see an opportunity to make authentic 100% Blue Weber Agave tequila more accessible to Indian consumers at a compelling premium price point. Bodega Suprema No. 5 is the first step in building that proposition and introducing it to consumers across India.”
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