This company buys Haldiram’s 10% stake, acquired for Rs 85000000000, no connection with Mukesh Ambani, Ratan Tata, Adani, name is…

This deal is expected to further strengthen Haldiram’s position as a leading player in India’s FMCG sector.

Written by: Anirudha Yerunkar Edited by: Anirudha Yerunkar

Published: March 13, 2025, 10:44 AM IST

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https://www.india.com/business/this-company-buys-haldirams-10-stake-acquired-for-rs-85000000000-no-connection-with-mukesh-ambani-ratan-tata-adani-name-is-temasek-7677927/ Copy

Singapore’s state-owned private equity firm, Temasek, has signed an agreement to acquire a 10% stake in Haldiram Snacks Food Pvt. Ltd., India’s largest snacks brand, for Rs 8,500 crore. The deal values the company at $10 billion (approximately Rs 85000 crore), making it one of the largest private equity transactions in India’s FMCG sector.

Haldiram’s Deal 

According to Mint’s report, the family-owned business may sell an additional 5% stake to either Blackstone and its consortium or Alphawave Global, with negotiations expected to follow the same financial terms as Temasek’s deal. Discussions with these potential buyers are ongoing.

The agreement with Temasek concludes after over a year of deliberations, reflecting significant confidence in Haldiram’s business potential and its strong market position. This deal could open an opportunity for an initial public offering (IPO) within the next 24 to 36 months, enabling private equity firms to monetize their investments.

Family Business Reorganization

The stake sale follows a major restructuring within the Haldiram family. Last year, the Delhi and Nagpur factions of the business merged their FMCG operations under the newly formed Haldiram Snacks Food Pvt. Ltd. (HSFPL).

The Delhi business, led by Manohar Agarwal and Madhu Sudan Agarwal, held a 56% stake in the merged entity, while the Nagpur group, led by Kamalkumar Shivkisan Agrawal, controlled the remaining 44%. Both groups are related to the Haldiram’s founder, Ganga Bhishen Agarwal, who started the business in 1937.

Haldiram’s Growth And Market Position

Started as a family-owned sweet shop, Haldiram has grown into a global powerhouse offering over 400 varieties of snacks, sweets, and ready-to-eat foods. The company operates in over 100 countries, with products ranging from namkeen and frozen foods to beverages and pasta.

Haldiram commands more than 40% of India’s snacks and savory market, competing with brands such as Balaji Wafers, ITC, Parle Products, PepsiCo, and Bikanervala Foods. The company reported revenues of approximately Rs 14,000 crore in FY24, with an EBITDA margin of 20-21%, and has been growing at a compounded annual growth rate (CAGR) of 16-17%.