M&A / AcquisitionWhiskyMay to Jul ’26Independent BII analysis

What caught our attention. Tilaknagar Industries has acquired Imperial Blue, a deal that brings scale, distribution and volume. We looked at the other side of the brand: how keen consumers are to buy it.

Tilaknagar acquired Imperial Blue.
It has not acquired its Buying Intent.

Acquired = current market volume

Buying Intent = keenness to buy in future

Acquisition brings scale, distribution and volume. The real test is building consumer readiness to buy.

What the deal acquired

ScaleLarge volume and market presence
DistributionWidespread reach
VolumeCurrent market volume

What still needs to be built

Imperial Blue
Buying Intent · Jul ’263.50

Desire is moving up
May to Jul ’26

Whisky category · Buying Intent | Jul ’26

Signature35.80
Royal Stag22.90
Imperial Blue3.50

The next few BII cycles will reveal whether the acquisition changes Imperial Blue’s consumer pull.

Measured · since this readingIn Aug ’26 Imperial Blue’s Buying Intent reading was 7.80, against 48.10 for Signature and 6.20 for Royal Stag, on thin bases for Imperial Blue and Royal Stag. One month is not yet a trend.

What the data shows

Measured · What BII data shows

Imperial Blue’s July Buying Intent was about a tenth of Signature’s and less than a sixth of Royal Stag’s.

Brand Desire rose in each of three consecutive months. Wanting the brand is building from a low base, ahead of keenness to buy.

These readings rest on very few respondents, between two and five a month for Imperial Blue, so the direction means more than the precise levels.

Buying Intent for the three brands, recent months

Normalised index. Imperial Blue and Royal Stag rest on fewer than ten respondents a month. Read the direction rather than the precise level.

Buying Intent for Signature, Royal Stag and Imperial Blue, Apr to Aug ’26
Month	Signature	Royal Stag	Imperial Blue
Apr ’26	6.40	24.10	3.20
May ’26	2.10	43.90	2.80
Jun ’26	37.60	33.20	2.70
Jul ’26	35.80	22.90	3.50
Aug ’26	48.10	6.20	7.80

The first cycle since the post

Buying Intent, Aug ’26

Signature: 48.10
Royal Stag: 6.20
Imperial Blue: 7.80

Imperial Blue’s reading rose from 3.5 to 7.8; Royal Stag’s fell to 6.2. Both on thin bases: one month is not yet a trend.

Why this is interesting

Interpreted · What the pattern may mean

An acquisition transfers what a balance sheet can count. Whether consumers are keen to buy the brand is a separate asset: it cannot be acquired, only built.

Imperial Blue’s rising Desire suggests there is something to build on; its Buying Intent shows how far there is to go.

What might be happening?

Interpreted · Possibilities rather than findings

The data tells us what has changed. It does not by itself establish why. These are directions a brand team could investigate.

One possibility worth investigating is whether rising Desire reflects renewed visibility around the change of ownership.
The pattern may warrant looking at the brand’s positioning under its new owner; continuity or relaunch can shape how quickly Desire turns into keenness to buy.
A brand team could test which rival Imperial Blue most needs to win from, Royal Stag or Signature, city by city.

What should Imperial Blue look at next?

Investigate · Questions BII can take further

In which cities is Imperial Blue’s Desire rising?
Which age groups show the most interest in the brand?
Which Brand Behaviours does Imperial Blue share with Royal Stag and Signature, and where does it differ?
Does Buying Intent follow Desire over the next few readings?

Understanding acquisition impact

How BII can be used this way

Before or after a deal, BII offers an outside-in reading of the consumer strength that comes with a brand. Buying Intent, Brand Trust and Brand Desire against category peers.

It sits alongside financial and distribution due diligence rather than in place of it.

See the six ways brands use BII

Go deeper in BII

Explore this question by:

City · 16 cities
Age
Brand Desire
Buying Intent
Brand Behaviours (22)
Competitive set
Monthly trend

Method and caveats

Period: Buying Intent for July ’26; Brand Desire for May, June and July ’26. Aug ’26 shown as the first reading after the post.
Category: Whisky.
Base: BII’s monthly national reading across 16 cities. Imperial Blue and Royal Stag rest on fewer than ten respondents a month; read as directional.
Reading: Normalised index. BII measures consumer readiness to buy rather than transactions, and does not attribute any movement to the acquisition.

Figures updated. The LinkedIn post showed June ’26 Desire of 4.3. After BII’s September category review the reading is 4.4.

Independent BII analyses. Brands featured are selected because we find the market development noteworthy; inclusion does not imply a client relationship.

What would this analysis reveal about your brand?

Track Buying Intent, Brand Trust and Brand Desire across your brand, its category and its competitive set: every month.