International Holding Company (IHC), based in Abu Dhabi, has invested in Haldiram Snacks Food, India’s leading snack and food brand.
This investment, alongside New York-based Alpha Wave Global, contributes to the Indian company’s ongoing equity financing round, which also includes a recent investment from Singapore’s Temasek.
According to the statement, IHC and Alpha Wave collectively acquired a minority stake of 6 percent in India’s leading snack and food brand, valuing the company at $10 billion. Temasek acquired a 10 percent stake for $1 billion.
“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,” said Sanjeev Krishan, chairperson of PwC in India.
The funds will primarily support the Indian company’s expansion into international markets, notably the United States and the Middle East, regions with a growing demand for Indian snacks and cuisine. The transaction, subject to customary regulatory approvals, is expected to close soon.
This strategic partnership underscores Haldiram’s commitment to leveraging global expertise and capital to solidify its position as a household name in international markets.
Haldiram’s
Established in 1937 in Rajasthan, Haldiram’s has evolved into a prominent player in India’s $6.2 billion savory snacks market, holding an estimated 13 percent market share. The recent investments are expected to support the company’s strategic initiatives, including enhancing product offerings and expanding global operations.
