- विज्ञापन -
Singapore’s sovereign wealth fund, Temasek, has finalized a deal to acquire nearly a 10% stake in the snacks division of India’s Haldiram’s for approximately $1 billion, according to a Reuters report on Wednesday.
This agreement follows months of negotiations, with Temasek viewing Haldiram’s as a valuable asset to strengthen its focus on India’s rapidly growing consumer market. The deal also highlights the increasing interest of global investors in India’s food and beverage sector, particularly the savoury snacks segment.
While Temasek secured the deal, American private equity giant Blackstone had also placed a bid for a 20% stake but at a lower valuation. This transaction marks one of the largest recent deals in India’s fast-moving consumer goods (FMCG) sector, potentially paving the way for more foreign investment in the industry.
Bankers suggest that Haldiram’s promoters are considering an initial public offering (IPO) within the next year, aiming to capitalize on India’s strong stock market. If this occurs, it could further boost Haldiram’s financial standing and market presence.
About Haldiram
Haldiram Snacks Foods, the combined FMCG business of the Delhi and Nagpur branches of the Haldiram’s family, is a leading player in India’s snack industry. The Haldiram brand operates through three separate family-run entities based in Delhi, Nagpur, and Kolkata. However, the Delhi and Nagpur factions have merged their FMCG businesses, Haldiram Snacks and Haldiram Foods International, into a unified entity called Haldiram Snacks Foods Private Ltd (HSFPL).
According to Euromonitor International, HSFPL holds nearly a 13% share of India’s $6.2 billion savoury snacks market.
In addition to its packaged snacks, Haldiram’s operates a chain of restaurants, further strengthening its position in India’s food sector. Its strong market presence has attracted substantial interest from global investors, with several private equity firms, including Bain Capital and Blackstone, vying for a stake in the unlisted company, as previously reported by Business Standard.
