Haldiram’s sells shares to two other companies after Temasek, planning global expansion
This strategic move further strengthens Haldiram’s financial position as it accelerates its global expansion plans, especially in the United States and the Middle East,
India’s most popular brand Haldiram has made news for selling minority stakes to Singapore-based global investment firm Temasek. Now, Haldiram Snacks Food, the country’s leading snack and food brand, has confirmed its sale to two new investors – IHC (International Holdings) and Alpha Wave Global. However, the statement did not disclose details of the transaction. The company has not disclosed details of the deal with Temasek. “Haldirams, the leading snack and food brand in India, is pleased to announce the addition of two new investors, IHC (International Holdings) and Alpha Wave Global, to its ongoing equity following the recent involvement of Temasek.”
It said the strategic move further strengthened Haldiram’s financial situation as it accelerated its global expansion plans, especially in the United States and the Middle East. According to the statement, “This investment reflects Alpha Wave Global and IHC’s commitment to a leading company with a strong consumer brand.” According to industry sources, IHC and Alpha Wave jointly acquired a minority stake in Haldiram Snack Food at a valuation of US$10 billion (approximately Rs 85,000 crore), which is considered the largest stake in the packaged food industry in India.
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Alpha Wave is a global investment company focusing on three major verticals (private equity, private credit and public markets), while UAE-based IHC is one of the largest investment companies in the world. Founded in 1937, Haldiram Products was then a retail candy and Namkeen Shop of Rajasthan Bikaner, founded by Ganga Bhishen Agarwal and sold in over 80 countries. In 2022, it was announced that the Delhi-based Haldiram Snacks and Nagpur-based Haldiram Foods International’s packaged snack business will be first phased out and then merged into an entity called Haldiram Snacks Foods.
(Input with PTI)
