World’s 7th richest man acquires stake in India’s largest snacks brand Haldiram’s; His net worth is much more than Ambani and Adani combined

Mukesh Ambani is at number 18 with a net worth of $106 billion, and Gautam Adani is at number 20 with $83.6 billion.

New Delhi: L Catterton, a prominent American private equity (PE) firm, has acquired a stake in Haldiram’s, India’s largest savoury snacks and sweets brand. Singapore’s Temasek, the UAE’s IHC, and America’s Alpha Wave Global have already jointly acquired more than a 10% stake in Haldiram’s. This deal was valued at $10 billion.

According to a TOI report, L Catterton has not disclosed specific details of the deal, but sources say it is a minority investment. L Catterton is backed by the French luxury group LVMH and its chairman Bernard Arnault’s family holding company, Group Arnault. Attempts to contact a company spokesperson were unsuccessful.

India’s Snacks Market

This investment was made from L Catterton’s $400 million India-focused fund. This fund was launched this year and aims to invest between $25 million and $150 million in India. The Indian snacks market is currently experiencing significant activity. Many large global investors are seeking a stake in this segment. The savoury snacks market in India is worth approximately $6.2 billion.

Besides Haldiram’s, Rajkot-based Balaji Wafers is also set to receive investment from General Atlantic at a valuation of Rs 35,000 crore. Traditional family businesses like Haldiram’s and Balaji Wafers are now bringing in professional investors to expand their businesses and reach a global market. This year, both the packaged food and food services sectors have seen considerable activity.

Bernard Arnault’s Net Worth

L Catterton has invested in more than 275 consumer brands worldwide. In India, it has also supported companies like Drools, Farmley, and Sugar Cosmetics. Its promoter, Bernard Arnault, is a French business magnate and the seventh richest person in the world. According to the Bloomberg Billionaires Index, his net worth is $205 billion. He is the only non-American billionaire in the top 10. In this list, Mukesh Ambani is at number 18 with a net worth of $106 billion, and Gautam Adani is at number 20 with $83.6 billion.