After Temasek, Haldiram's sells stake to two more companies, plans global expansion

Haldiram's, India's popular brand, has been in the news for selling a minority stake to Singapore-based global investment firm, Temasek. Now, Haldiram Snacks Food, the country's leading snack and food brand, has confirmed selling its stake to two new investors -- IHC (International Holding Company) and Alpha Wave Global. However, the statement did not disclose the details of the deal. The company also did not disclose the details of the deal with Temasek. "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," a statement said.

This strategic move further strengthens Haldiram's financial position as it accelerates its global expansion plans, particularly in the US and the Middle East, it said. "The investment reflects Alpha Wave Global's and IHC's commitment to backing dominant companies with strong consumer brands," as per the statement. 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.

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Alpha Wave is a global investment company that focuses on three main verticals -- private equity, private credit, and public markets -- while UAE-based IHC is one of the world's largest investment companies. 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.

(With inputs from PTI)