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CCI gives nod to Temasek's minority acquisition of Haldiram Snacks Food
Temasek's subsidiary Jongsong will acquire under 10% stake in Haldiram Snacks Food, now consolidated under HSFPL following a major FMCG merger in April
The Competition Commission of India (CCI) has approved the proposed acquisition of a minority stake in Haldiram Snacks Food Private Limited (HSFPL) by Jongsong Investments Pte. Ltd., a wholly owned subsidiary of Singapore-based Temasek Holdings.
The deal involves Jongsong acquiring less than 10 per cent of the issued and paid-up equity share capital of the Indian packaged foods company.
Temasek, a global investment company headquartered in Singapore, holds a diversified portfolio spanning sectors such as transportation, financial services, technology, consumer goods, life sciences, agri-food, and credit.
Haldiram Snacks Food Pvt Ltd, incorporated in December 2022, currently has no active business operations. 'The Target (including its affiliates) will be engaged in the manufacture and sale of packaged food products in India, such as snacks, sweets, ready-to-eat products, dairy products, bakery products, chocolates, and non-carbonated ready-to-drink beverages,' the CCI stated in a press release.
Haldiram merger and restructuring
In April this year, Haldiram Snacks Private Ltd (Delhi) and Haldiram Foods International Pvt Ltd (Nagpur) officially merged to form HSFPL, a unified entity consolidating their FMCG businesses. The merger was announced by CEO Krishan Kumar Chutani on LinkedIn.
A new chapter begins in the Haldiram story, and it's a significant one,' Chutani posted, highlighting the strategic importance of bringing the two regional units together.
He described the formation of HSFPL as 'not just a merger' but a 'fresh start' that combines legacy with a shared vision for the future.
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