New Delhi3 minutes ago
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Singapore’s Sovereign Investment firm Temasek has signed an agreement to buy 10% stake in Haldiram’s snack division. The deal has been done for $ 1 billion (about 8,555 crore rupees). Haldiram reported on March 30 that Temasake bought a 10% stake of the company’s current share holders.
Both sides were interacting for this deal for several months. America’s Private Equity (PE) Blackstone also offered a 20% stake in Haldiram, but the offer was on low valuation. Hence Haldiram has finalized this deal with Temasek.
This cell is one of the recent biggest transactions in India’s fast-moving consumer Goods (FMCG) region. Bankers say that Haldiram’s promoters are considering bringing an Initial Public Offer (IPO) within next year.
5-6% stake in Haldiram and will buy Temasek
According to media reports, Haldiram is considering selling Extra 5-6% stake to Temasek. In both companies, there is a negotiation on this deal at the advanced stage. This purchase will be done for $ 500 million (Rs 4,277 crore).
Three family NTT Haldiram Brand operates
The Haldiram brand in India is operated by three different family NTTs located in Delhi, Nagpur and Kolkata. However, Delhi and Nagpur Family merged their FMCG Business Haldiram Snacks and Haldiram Foods International in a single NTT, Haldiram Snacks Foods Private Limited.
Haldiram’s snacks are also sold in foreign markets like Singapore and America. It started in 1937 from a small shop.
Haldiram also operates a chain of restaurant
In addition to packaged snacks, a chain of Haldiram restaurant also operates. The company sells 500 types of snacks, salty, sweets, ready to bricks and pre-mixed food items. Haldiram received a revenue of Rs 12,800 crore in FY 24.
Snack Market 13% stake, started in 1937
According to Euromonitor International, Haldiram holds an about 13% stake in India’s $ 6.2 billion snack market. Its snacks are also sold in foreign markets like Singapore and America. The company has about 150 restaurants. It started in 1937 from a shop.
