Latest news with #AlphaWaveGlobal
Bloomberg
12-05-2025
- Business
- Bloomberg
H&F's Hub Lands $29 Billion Valuation in $1.6 Billion Round
Hellman & Friedman -backed Hub International Ltd. has raised $1.6 billion in fresh equity in a funding round that values the insurance brokerage at $29 billion. The round is being led by T. Rowe Price Investment Management Inc., Alpha Wave Global and Temasek, and includes participation from other new and existing investors, Hub said in a statement Monday.
Reuters
12-05-2025
- Business
- Reuters
Insurance broker Hub International secures $29 billion valuation in $1.6 billion investment deal
May 12 (Reuters) - Insurance broker Hub International said on Monday it has secured a $29 billion valuation in a minority investment transaction of about $1.6 billion. The investment is led by funds and accounts advised by T. Rowe Price Investment Management, Alpha Wave Global, and Temasek, along with participation from other investors. The company's valuation is an increase from $23 billion in 2023, when Leonard Green & Partners L.P. announced a minority investment.
The Print
03-05-2025
- Business
- The Print
Piyush Goyal meets Co-founder and Partner of Alpha Wave Global, highlights investment potential in India
During the meeting, the minister highlighted India's fast-growing middle class, strong manufacturing base, and rapidly expanding digital economy. He said these factors make India a unique and promising place for global investors. New Delhi [India], May 3 (ANI): Union Minister of Commerce and Industry Piyush Goyal met Navroz D. Udwadia, Co-founder and Partner of Alpha Wave Global, in London to discuss India's strong potential as an investment destination. In a social media post, the Minister said, 'Met Navroz D. Udwadia, Co-founder and Partner of Alpha Wave Global in London. Highlighted how India's rapidly expanding middle class, manufacturing capability and rise of digital economy offer a unique opportunity for investment and growth'. Alpha Wave Global is a well-known investment firm, and the meeting focused on how India's economic growth and policy reforms are creating new opportunities for international businesses and investors. Earlier, Minister Goyal also held a joint meeting with Belgium's Minister of Defence and Foreign Trade, Theo Francken, and the Minister-President of Flanders, Matthias Diependaele. The leaders discussed ways to strengthen the India-Belgium partnership, especially in the areas of trade and investment. The discussions were described as productive and wide-ranging, aimed at deepening bilateral relations between the two countries. On Friday in Belgium, India and the European Union reaffirmed their commitment to address pending issues regarding their ambitious proposed Free Trade Agreement (FTA) in the next round of negotiations scheduled to take place in New Delhi from May 12-16. Union Minister of Commerce and Industry, Piyush Goyal and Maros Sefcovic, the European Commissioner for Trade and Economic Security, met in Brussels and discussed the progress of discussions aimed at navigating global trade challenges and solidifying their resolve to achieve this significant milestone. During the meeting, India stressed the importance of giving equal attention to non-tariff barriers (NTBs) alongside tariff negotiations to ensure meaningful progress. The meeting highlighted the progress achieved across various negotiating fronts. Both sides emphasised the critical need to maintain the current momentum through regular monthly negotiating rounds and continued virtual engagement. Union Minister Goyal is currently on a three-nation tour of Europe, covering key trade partners. In the UK and Norway, he held discussions with his counterparts on trade and investment. (ANI) This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.
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Business Standard
25-04-2025
- Business
- Business Standard
Alpha Wave Global, IHC seek CCI nod to acquire minority stakes in Haldiram
Alpha Wave Global, and IHC (International Holding Company) have sought the Competition Commission of India's approval to acquire minority stakes in Haldiram Snacks Food. Alpha Wave is a global investment company and United Arab Emirates-based IHC is one of the world's largest investment companies having a USD 250 billion market valuation and listed on Abu Dhabi Securities Exchange. "The proposed transaction entails the acquisition of less than 10 per cent of the issued and paid-up equity share capital of the target (Haldiram Snacks Food Pvt Ltd)," said a notice filed with the Competition Commission of India (CCI). The proposed combination, classified as an acquisition of shares and voting rights, falls under specific clauses of the Competition Act, it added. Haldiram Snacks Food is the combined business of the Haldiram family -- Delhi and Nagpur. In its submission to the CCI, Alpha Wave Ventures II LP and Alpha Wave IHC CI, LP (acquirers) said that the exact delineation of the relevant market may be left open as the proposed transaction does not give rise to any competition law concerns, irrespective of the manner in which the markets are defined. However, for the assessment of the proposed transaction the relevant markets may be considered either broadly -- as the market for manufacturing and sale of packaged food products in India -- or more narrowly, segmented into specific categories such as snacks, sweets, ready-to-eat meals, and bakery products, the notice said. Last month, Haldiram Snacks Food, the country's leading snack and food brand, announced that it is selling its stake to two new investors -- IHC and Alpha Wave Global. The announcement came a day after Haldiram confirmed the acquisition of a minority stake by Singapore-based global investment firm Temasek. According to industry sources, IHC and Alpha Wave are collectively acquiring a minority stake of about 6 per cent stake in Haldiram Snacks Food at a valuation of USD 10 billion (around Rs 85,000 crore), which is considered to be the largest for the Indian packaged food industry. Earlier, the National Company Law Tribunal had approved the process of the merger of the two sides and other regulatory approvals are awaited. Established in 1937 as a retail sweets and namkeen shop in Bikaner, Rajasthan, by Ganga Bhishen Agarwal, Haldiram products are sold in over 80 countries. In 2022, it was announced that the packaged snacks businesses of Delhi-based Haldiram Snacks and Nagpur-based Haldiram Foods International would be first demerged and then merged into an entity named Haldiram Snacks Food.
Mint
25-04-2025
- Business
- Mint
Private equity eyes fresh bite of regional food brands, repeat of Haldiram
Top private equity firms are scouring the country to unearth cash-rich regional food brands with healthy balance sheets that offer good growth potential, industry experts told Mint . The objective: discover the next Haldiram. The Nagpur-based snacks maker roped in Alpha Wave Global and Temasek Holdings as investors last month, valuing the company at around $10 billion. According to Pritha Jha, co-founder of Pioneer Legal, a law firm that has helped food brands raise capital, a lot of investment activity in consumer food brands is happening in places like Nashik, Jaipur and Udaipur. 'For a category like snacks, there is immense scope for scalability," said Jha, adding that sometimes when the next generation doesn't want to take the family business forward, PE firms get more interested. Further, several snack brands offer authentic taste patterns specific to particular regions, which allows them to distinguish themselves to private equity, Jha said. Apart from Haldiram, recent investments in consumer food brands include Motilal Oswal's ₹ 330-crore investment in Bengaluru-based ready-to-eat sweets company Lal Sweets for a 25% stake in August 2024. Sixth Sense Ventures bought A91 Partners' stake in Indore-based spice brand Pushp in December 2023 through a ₹ 100-crore deal. And Jashvik Capital bought a minority stake in Bharuch, Gujarat-based snacks firm Jabson's Foods in December 2022. Also read | Haldiram's promoters now offer a smaller bite to investors The interest is reflected in the skyrocketing numbers. Per data from Venture Intelligence, food brands have raised a record $1.68 billion across 14 deals in 2025 so far (including Haldiram). Comparatively, all of 2024 saw $507 million being raised from 39 transactions; and 2023 saw just $141 million raised across 21 deals. Much of this growth has been bolstered by the advent of e-commerce and quick commerce that has democratized distribution, DC Advisory's director Saurabh Maheshwari said. It also helps that most of the food brands generate a lot of cash and are largely profitable. 'Such deals have become more prominent as investors are prioritizing unit economics now more than ever," Maheshwari said. 'These brands are typically run by founders who have their cost structures in place and are geared for profitability, so it bodes well for investors too." Further, for brands that have taken time to achieve considerable scale, a resilient business model through an in-house distribution infrastructure has enabled them to be profitable for long, said Anand Ramanathan, partner at Deloitte India. 'The entry barriers are, therefore, very high for other food brands," Ramanathan pointed out. 'That, coupled with segments like ready-to-cook formulations in the portfolio, which are in high demand, make them an attractive proposition for investors." Read this | Temasek buys 10% in Haldiram's for ₹ 8,500 crore The opportunity to scale has become more pronounced with more than 100 million households stepping into the middle-income category, according to Ramanathan. 'Investors understand the untapped opportunity and that some of these brands can become very big," he said. India's food services market, valued at $80 billion in 2024, is set to grow at a CAGR of 10-11% through 2030, with the organized sector driving this expansion, according to a report published by Redseer Strategy Consultants in January. This is not the first time, however, that PE firms have looked at scaling up regional brands. Sequoia Capital first invested in Prataap Snacks in 2011, a company it then took public and then sold to Authum Investment and Mahi Madhusudan Kela in 2024. Lighthouse Funds acquired a 12.5% stake in Bikaji Foods in 2014. Similarly, Advent International acquired Crax-maker DFM Foods in 2019. However, several of these brands continue to remain regional in nature because of ongoing challenges. Bikaji Foods has deep market presence in Rajasthan, Bihar and Assam, but it is susceptible to market risks while expanding beyond these core regions as it faces competition from other local manufacturers as well as established participants, credit rating agency Icra said in March 2024. This, coupled with differences in tastes and consumer preferences across geographies, could translate to high selling expenses to maintain presence, the report added. Similarly, Prataap Snacks is also exposed to intense competition from other players, an Icra report from June 2024 said. And read | Blackstone, Temasek, Bain eye a big bite of Haldiram Snacks Gopal Snacks, backed by several domestic investors, which mainly operates in the Gujarati namkeen segment, also faces direct competition from other well-known retailers such as Everest Namkeen, Real Namkeen, and Balaji wafers. While the management has taken steps to widen geographic reach, it continues to draw about 70% of the revenue from Gujarat, another credit rating agency Crisil said last year. Meanwhile, New Delhi-based DFM Foods has seen significant delay to ramp-up operations and cash generation by the management, resulting in lower-than-anticipated revenue and profitability, Care Ratings said in an October report.
