TAILS Trading Group, a UK-based supplier of consumer packaged goods led by Asian entrepreneur Siddharth Shankar, has sold its private labelling arm to an international investor consortium for GBP 395 million.
The division has been a major supplier of products such as food, beverages, personal hygiene items, small domestic appliances, and cleaning products, serving large retailers, hotels, airlines, and regional importers across North America and Europe.
Siddharth Shankar, CEO of Tails Trading Group, described the sale as a “strategic move” and a key milestone for the company. “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,” he said in a statement.
The consortium, according to the company, is led by energy company NetOil and includes firms from the consumer brand distribution sector in Europe, a major 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 payment for the acquisition will be a mix of cash and stock, spread over the next three years.
Shankar, who moved to the UK from India in 2016 to pursue an MBA from Strathclyde Business School, also spoke about the opportunities in the India-UK trade corridor.
“The UK-India corridor holds immense potential. Both nations can 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 this development,” he said.
Shankar retains his Indian citizenship and expressed his long-term vision of returning to India to contribute to its business ecosystem.
(With inputs from PTI)
