Haldiram Snacks announces Temasek as strategic investment partner
Haldiram Snacks Food on Sunday announced Singapore-headquartered global investment firm Temasek as a strategic investment partner with Temasek acquiring an equity stake in Haldirams. The announcement did not disclose details of the stake sale. Temasek is acquiring a close to 10% in Haldiram Snacks Food for close to Rs 8,000 crore, at a valuation of $10 billion, sources directly aware of the developments said.
This is the largest private equity consumer deal in India. The ethnic snacks maker, which competes with Bikaji Foods, Bikanervala, PepsiCo and ITC among others, sells 500 types of fresh, frozen and salty snacks, sweets, ready-to-eat and pre-mixed foods, and non-carbonated ready-to-drink beverages. The New Delhi and Nagpur factions…
