Our Bureau
New Delhi
India’s renowned food, sweet, and snacks chain Haldiram’s is currently in the spotlight due to a significant acquisition bid. A global consortium, led by top private equity firm Blackstone, along with the Abu Dhabi Investment Authority (ADIA) and Singapore’s GIC, has submitted a non-binding bid to acquire up to 76% stake in Haldiram’s Snacks Food. The proposed deal is valued at an impressive $8.5 billion, as per reports.
Bain Capital and Singapore-based Temasek have teamed up to compete with a Blackstone-led consortium for a controlling stake in Haldiram Snacks Food Pvt Ltd. This move could potentially become India’s largest private equity acquisition to date. The Bain and Temasek combination submitted a non-binding offer, valuing the company at $8-8.5 billion (₹66,400-70,500 crore) as per reports.
Haldiram’s, founded in 1937 in Bikaner, Rajasthan, has grown from a retail sweets and savory shop to a global brand with products available in over 80 countries. The company’s revenue figures are equally impressive: the Nagpur-based faction registered ₹3,622 crore in revenue in FY22, while the Delhi-based Haldiram Snacks Private Limited clocked ₹5,248 crore in sales during the same fiscal year. Haldiram’s and the global consortium have yet to officially confirm this development.
This bidding war isn’t the first attempt to acquire Haldiram’s. In the past, venture capitalist firms like Bain Capital, Warburg Pincus, and General Atlantic have also expressed interest in the food chain.
