Negotiation with the Chauhans to acquire their packaged water business, Bisleri International, has “ceased”, Tata group’s FMCG arm Tata Consumer Products Ltd (TCPL) said on Friday.

Resting the speculation about a possible acquisition, TCPL in a regulatory update said it has not entered into any agreements over the acquisition of Bisleri.

“In this regard, the company wishes to update that it has now ceased negotiation with Bisleri about a potential transaction and to confirm that the company has not entered into any definitive agreement or binding commitment on this matter,” said TCPL.

However, the Tata group firm also said as it evaluates various strategic opportunities for the growth and expansion of its business on an ongoing basis, and under this, the management of the company remained in discussions with various parties, including Bisleri International.

Last year, veteran industrialist Ramesh Chauhan had said he is scouting for a buyer for his packaged water business Bisleri International and is in talks with several players, including TCPL.

The Tata group firm has recently done some acquisitions and is expanding its reach in the addressable market.

TCPL is already present in the bottled water segment with its brand Himalayan.

It is also present in the hydration segment with Tata Copper Plus Water and Tata Gluco. This deal would have made TCPL a leader in the fast-growing bottled water segment