Famous Americal investor, KKR & Co has extended a helping hand to Jagatjit Industries, the makers of Aristocrat whiskey. Both the parties are in advanced talks as Rs 300 crore financial aid will be needed to reconstruct the 75 year old company, as heard from the people aware of this matter.
Jagatjit, founded by late L P Jaiswal flourished under the patronage of the Maharaja of Kapurthala. The early doyen of Indian liquor industry was publically listed.
Unfortunately it could not maintain its status due to the mismanagement of the next generation. The company later saw a turn around by virtue of the third generation scion Roshini Sanah Jaiswal.
One time leader in the Indian whiskey mart, Aristocrat Premium, at present sells under a million cases. Its other brands include AC Black whiskey and IICE vodka.
The erstwhile families of L P Jaiswal and NN Mohan, who acquired the Mohan Meakin from the British founders, used to rule over the Indian liquor industry before Vittal Mallya and Manohar Rajaram Chhabria took over during the 70s and 80s.
Although the news of financial aid is being heard off, but KKR has refused to speak a word about it. Roshini Jaiswal has confirmed the talks but has refused to name anyone.