Latest news with #Haldirams
Arabian Business
01-04-2025
- Business
- Arabian Business
Abu Dhabi-based IHC to acquire stake in $10bn Indian snack food major Haldiram
New York-based Alpha Wave Global is another international investor in the latest round of Haldiram Snacks Food, it said. 'Haldirams, India's leading snack and food brand, is pleased to announce the addition of two new investors, IHC (International Holding Company) and Alpha Wave Global, to its ongoing equity round, following Temasek's recent participation,' said the company in the official statement cited in a PTI report. Abu Dhabi's IHC invests in Haldiram The announcement comes close on the heels of Singapore's Temasek's move to acquire a 10 percent stake in Haldiram, reportedly for around $1bn (Rs85bn), valuing the company at $10bn. Though the financial details of the equity acquisition deals with IHC and Alpha Wave Global were not disclosed, media reports suggested the combined investment of the two could be in the region of about $70m for a six percent equity stake in the Indian snacks major – a popular household name in North India. A company spokesperson told Reuters that the partnership [with the new investors] represents patient capital and long-term support to Haldirams' growth plans. With the backing of IHC and Alpha Wave Global, Haldirams is said to be set to leverage the vast expertise and networks of these investors to broaden its footprint in key international markets such as the Middle East and the US. These markets which demonstrate growing demand for Indian cuisine and snacks, will be the primary focus areas in the company's global expansion strategy, it said. With this partnership, the company is well-positioned to enhance its product offerings, expand its operations, and further its mission to make Haldirams a household name in Middle East and other international markets, according to a spokesperson, as cited in media reports. Started in Bikaner, Rajasthan, in 1937, the snack giant's impressive product portfolio comprises more than 400 items, including traditional namkeens, western snacks, Indian sweets, cookies, sherbets, pickles and more.
Al Etihad
31-03-2025
- Business
- Al Etihad
IHC to invest in India snacks giant Haldirams
31 Mar 2025 23:19 A. SREENIVASA REDDY (ABU DHABI) Abu Dhabi-based investor International Holding Company (IHC) has decided to invest in India's leading snack company Haldirams, whose variety of savouries are popular with subcontinental expatriates living in the UAE.A statement by Haldirams confirming the investment was posted on the Abu Dhabi Securities Exchange (ADX) website on Monday. Alongside IHC, US-based investor Alpha Wave Global has joined the company's ongoing equity round, following Singapore sovereign investor Temasek's financials on the extent of IHC's investment in the Indian snacks company were given. Established in 1999, IHC, a listed company at the ADX with huge footprint across the UAE and the world, has become the most valuable holding company in the Middle East and one of world's largest investment firms, with a market capitalisation of Dh876.5 billion. Haldirams, established in 1937, is known for its wide range of Indian snacks, sweets, and ready-to-eat products. Haldirams brand has become synonymous with Indian food. 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 Basar Shueb, CEO of IHC, said, 'We are excited to join hands with Haldirams, a brand that has set the standard for excellence in the ethnic Indian snacks industry. This investment aligns with Alpha Wave's and IHC's strategy to support leading companies that are making a global impact.'Rick Gerson, Co-founder and Chairman of Alpha Wave Global, praised Haldirams' long-standing reputation, stating, 'Over 90 years, the Agarwal family has built Haldirams into one of the most loved and iconic brands in India. We are proud to become a shareholder and partner with Haldirams in this next stage of their growth.'A Haldirams spokesperson emphasised the strategic significance of the partnership, saying, 'We are excited to welcome IHC and Alpha Wave Global as partners in our journey of global growth. The partnership represents patient capital and long-term support to Haldirams' expansion plans.'The investment will support Haldirams' ambitions to scale its operations in key markets, particularly the US and the Middle East, catering to the growing global demand for Indian cuisine and snacks. 'With the backing of Alpha Wave Global and IHC, Haldirams is set to leverage the vast expertise and networks of these investors to broaden its footprint in key international markets such as the US and Middle East, while strengthening its footprint and presence further in India,' the statement said.
Yahoo
31-03-2025
- Business
- Yahoo
India snacks major Haldirams sells stake to Temasek
India-based Haldiram Snacks Food has agreed to sell a stake in the business to Temasek, the Singapore state-owned investment fund. The terms of the deal, including the size of Temasek's shareholding and how much it has paid, were not disclosed. Approached by Just Food, a Temasek spokesperson referred this publication to a statement issued by PwC, which was an advisor on the deal. Officials in Haldiram Snacks Food, also known as Haldirams, were unavailable to comment. Haldirams is one of India's largest domestic snack-foods businesses. Set up in 1937, the company markets snacks, sweets and other foods. In PwC's statement, the professional-services group said Temasek had struck a deal to buy 'an equity stake from the existing shareholders' of Haldirams. 'This transaction positions Haldirams to continue its ambitious expansion plans both in India and internationally, solidifying its presence in an increasingly competitive market,' the statement read. The statement carried quotes from an unnamed Haldirams spokesperson, which read: '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.' Indian business daily Financial Express said Temasek is acquiring a stake of around 10% in Haldirams for approximately Rs8,600 ($1.01bn). The Temasek spokesperson declined to comment on whether those figures were correct. In the PwC statement, Sanjeev Krishnan, the chairperson of the company's arm in India, said: '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.' In April, the Competition Commission of India backed a move by the Agarwal family, promoters of the Haldiram Group, to demerge and combine the FMCG businesses housed in two separate companies into Haldiram Snacks Food, the entity in which Temasek is investing. Under the planned transaction, the FMCG businesses undertaken by Haldiram Snacks Private Limited and by Haldiram Foods International Private Limited are being placed in Haldiram Snacks Food. The terms of the demerger meant Haldiram Snacks Private Limited would own 56% of Haldiram Snacks Food and Haldiram Foods International Private Limited the other 44%. Meanwhile, another Indian business daily, The Economic Times, said UAE-based fund Alpha Wave had agreed a deal to take a 6% shareholding in Haldirams. Just Food has contacted Alpha Wave and Temasek to comment on that transaction. "India snacks major Haldirams sells stake to Temasek" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Times of Oman
30-03-2025
- Business
- Times of Oman
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.
