New Delhi: Snacks and Sweets Company Haldiram Snacks Food Private. The deal’s financial adviser said on Sunday that the limited company has reached an agreement with Singapore-based global investment firm Temasek.
The PwC Investment Banking team serves as the exclusive financial advisor for the transaction, while Khaitan & Co. As legal counsel. Temasek agrees to acquire 10% stake ₹Rs 85 billion in Haldiram snack Pvt. Peppermint Co., Ltd. reported that 11 quotes were cited by people who were aware of the matter. The transaction is worth $10 billion to the business or ₹85,000 million.
The agreement will allow Temasek to acquire equity from existing shareholders of Haldirams. The deal has allowed Haldirams to continue its ambitious expansion plans in India and internationally, cementing its influence in an increasingly competitive market, according to a statement issued by the PWC on Sunday. Financial details of the transaction were not disclosed.
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“We are delighted to welcome Temasek as an investor and partner of Haldirams. We look forward to working with them to leverage the value they bring from their experience in the consumer sector to accelerate our growth and enhance our ability to meet consumer needs. We also support them in the meantime for PWC and Khaitan & Coco co..”
The transaction is subject to customary regulatory approvals and is expected to end soon.
Sanjeev Krishan, President of PwC India, said: “Our decade of cooperation with Haldirams illustrates this commitment. Over the years, we have provided them with advice on a variety of strategic plans and decisions. This deal is the largest private equity deal in India and the largest private enterprise deal in India’s domestic businesses, which can also reflect Indian families as a global scale, which is our place on a global scale, and we will position it globally, our location is our position, our position is our position. Give this opportunity.”
The announcement restricted negotiations for more than a year to pass a valuation as one of India’s largest PE deals. The pioneer of the deal was the merger of Nagpur and the Delhi factions. These organizations expelled the Fast Moving Consumer Goods (FMCG) of HSPL and HALDIRAM FOODS International Pvt Ltd (HFIPL) (HFIPL) (part of the HALDIRAM NAGPUR Group) to the newly formed entity, Haldiram Snacks Foods Pvt. Limited (HSFPL). Manohar Agarwal and Madhu Sudan Agarwal mainly operate Delhi businesses. That part of the family was led by Kamalkumar Shivkisan Agrawal of Haldiram founder Ganga Bhishen Agarwal, who started the company in 1937.
The existing shareholders of HSPL and HFIPL hold 56% and 44% of the new entity, respectively. Temasek is a global investment company headquartered in Singapore with a portfolio value of US$288 billion as of March 31, 2024.
