In a landmark move, Haldiram’s Nagpur-based Haldiram Foods Private Limited and Delhi-based Haldiram Snacks Private Limited have merged to form a unified entity—Haldiram Food and Snacks Private Limited—with a valuation of Rs 84000 crore.
Sources within the company confirmed that Singapore’s state-owned investment firm, Temasek Holdings, has acquired a 10% stake in the newly formed entity for $1 billion (approximately ₹8,600 crore).
Merger Anticipated for Months
Signs of the merger had been visible for some time, as Haldiram Snacks’ products began appearing on retail shelves across India six to eight months ago. Additionally, changes in packaging designs hinted at a possible consolidation. Despite these indications, Haldiram’s traditionally conservative owners refrained from commenting on the matter.
Blackstone Inc.had shown interest in acquiring a majority stake in the company. While the owners were initially open to Blackstone’s offer, they ultimately decided to retain control and instead merge their Nagpur and Delhi businesses to strengthen the brand.
IPO Plans on the Horizon
Industry insiders suggest that Haldiram’s owners are considering an Initial Public Offering (IPO) in the near future. The valuation determined for Temasek’s investment will serve as a key benchmark for the IPO, reinforcing Haldiram’s status as India’s largest snacks company.
Haldiram’s Legacy and Growth
Haldiram, which originated in Bikaner in 1937 as a small confectionery and desserts shop, has grown into an international brand. The company set up its first manufacturing plant in Kolkata to drive expansion, followed by a larger facility in Jaipur in 1970. In the early 1990s, another plant was established in New Delhi.
With a diverse product portfolio that includes salted snacks, sweets, retail outlets, and eateries, Haldiram is now India’s first organized manufacturer of 100% vegetarian Indian snacks and has a significant export presence worldwide.
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