Temasek to acquire equity stake from Haldirams' existing shareholders in strategic deal
New Delhi: Singapore-based global investment firm Temasek will aquire an equity stake from Haldirams' existing shareholders, as per PwC, the exclusive financial advisor to the transaction.
This strategic transaction strengthens Haldirams' position to accelerate its ambitious expansion plans, both in India and internationally, ensuring a solid foothold in the highly competitive market.
PwC Investment Banking team acted as the exclusive financial advisor to the transaction and Khaitan & Co acted as the legal advisor, as per a statement.
The transaction, which is subject to customary regulatory approvals, is expected to close soon.
On behalf of the Haldirams group, a spokesperson said, "We are thrilled to welcome Temasek as an investor and partner in Haldirams. We look forward to working with them to harness the value they bring from their experience in the consumer space to accelerate our growth and strengthen our ability to meet evolving consumer demands. We also extend our gratitude to PwC and Khaitan & Co for their dedicated support during this transaction."
Sanjeev Krishan, Chairperson, PwC in India, said "At PwC, we take pride in being catalysts of entrepreneurial success--helping businesses transform into global giants. Our decade-long collaboration with the Haldirams exemplifies this commitment. Over the years, we have advised them on various strategic planning and decision making.. This transaction is not only the largest private equity consumer deal in India, but also a reflection of domestic businesses that continue to elevate India's positioning on the global stage. We thank the Haldirams family for trusting us and giving this opportunity."
Haldirams is a leading global packaged food company known for its wide range of snacks, sweets, and ready-to-eat products. Haldirams brand has become synonymous to Indian food and has been awarded one of the most loved and trusted brand.
Established in 1937, the company pioneered automated manufacturing in traditional snacks and has grown to become one of the largest manufacturers of packaged foods in India with a significant international presence.
Temasek is a global investment company headquartered in Singapore, with a net portfolio value of USD 288 billion as at 31 March 2024. Marking its unlisted assets to market would provide USD 23 billion of value uplift and bring its mark to market net portfolio value to USD 311 billion.
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