Indian entrepreneur sells private arm of UK-based Tails Trading Group
Siddharth Shankar, CEO, Tails Trading Group
Tails Trading Group, a UK-based supplier of multi-category consumer packaged goods led by an Indian entrepreneur, has announced the sale of its private labelling arm to a large international investor consortium for GBP 395 million.
The group’s labelling division has been a key supplier of a wide range of products including food and beverages, personal hygiene items, small domestic appliances and household cleaning products, with its diverse client base made up of large retailers, hotels, airlines and regional importers across North America and Europe.
Terming this as a strategic move marking a significant milestone in his company’s evolution, Siddharth Shankar, CEO of Tails Trading Group, said in a statement this week: We welcome this bid and are confident that the business and its social impact are safe, if not in better hands, with the new management.
According to the group statement, the investor consortium is led by energy major NetOil and includes companies from the consumer brand distribution sector in Europe, a prominent American retailer, and a green supply chain company from the US.
This acquisition holds strong long-term value and synergies for our consortium of buyers. In the short term, it brings a significant volume of shipments and revenue, along with access to a robust network of quality manufacturers from across the globe, said Gilles Koch from NetOil.
The buyers intend to pay the sellers via a mix of cash and stock, with payments spread over the course of the next three years. As someone who arrived in the UK from India in 2016 to complete his MBA from Strathclyde Business School, the entrepreneur is also passionate about the opportunities within the India-UK corridor.
Having gained extensive experience in the realm of global trade, I am firmly convinced that the UK-India corridor holds immense potential. Both nations stand to gain significantly by accessing each other’s markets, technologies, investment opportunities, and talent pools.
On a personal level, I am eager to contribute more to the development of this corridor, said Shankar, who still retains his Indian citizenship.
While my current focus involves fostering the UK-India trade corridor, my ultimate vision is to return to India and play a role in developing its business ecosystem and contributing to society at large.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Sep 17 2024 | 3:52 PM IST
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