Haldiram’s Secures Major Investment from Temasek
Haldiram’s, India’s leading snacks and sweets manufacturer, has entered a significant investment agreement with Singapore-based investment firm Temasek. This partnership will see Temasek acquiring a 10% minority stake in Haldiram’s, valued at approximately USD 10 billion (around Rs 85,000 crore). This deal marks a pivotal moment in the Indian packaged food sector, promising to enhance Haldiram’s growth both domestically and internationally.
Major Investment in India’s Food Sector
The strategic investment agreement between Haldiram’s and Temasek is poised to reshape the landscape of India’s food industry. Although the exact valuation details remain undisclosed, sources indicate that Temasek’s acquisition of a 10% stake is a landmark event, representing the highest valuation in the Indian packaged food market to date. Haldiram’s confirmed the deal in a statement, emphasizing the importance of this partnership for its future endeavors.
“This transaction is subject to customary regulatory approvals and is expected to close soon,” the statement noted. The involvement of Temasek, a global investment powerhouse, underscores the growing interest in India’s food sector, which is rapidly evolving to meet increasing consumer demands.
Expanding Global Footprint
The investment from Temasek is expected to significantly bolster Haldiram’s ambitions for expansion, both in India and abroad. As the competition in the global snacks market intensifies, Haldiram’s aims to leverage this partnership to enhance its market presence. A spokesperson for Haldiram’s expressed excitement about the collaboration, stating, “We are thrilled to welcome Temasek as an investor and partner in Haldiram. We look forward to working with them to harness the value they bring from their experience in the consumer space to accelerate our growth and strengthen our ability to meet evolving consumer demands.”
The partnership is anticipated to provide Haldiram’s with the necessary resources and expertise to navigate the competitive landscape of the global snacks industry, further solidifying its position as a leading brand.
Haldiram’s Growth Journey
Founded in 1937 in Bikaner, Rajasthan, Haldiram’s began as a small retail shop selling sweets and namkeen. Over the decades, it has transformed into a global brand, with its products now available in over 80 countries. The company underwent a significant restructuring in 2022, merging its Delhi-based Haldiram’s Snacks and Nagpur-based Haldiram’s Foods International into a single entity named Haldiram Snacks Food.
Recent reports suggest that Haldiram’s promoters may also consider divesting an additional 6% stake in Alpha Wave Global. This move comes amid a competitive landscape, with several private equity firms, including Blackstone and a Bain Capital-led consortium, vying for a stake in the company. As Haldiram’s continues to grow, its strategic partnerships and investments will play a crucial role in shaping its future trajectory in the global market.
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