Haldiram’s confirms stake sale to IHC, Alpha Wave Global after Temasek’s $8,500 crore deal

Indian snacks manufacturer Haldiram announced on Monday, March 31, the confirmation of two new investors, the Abu Dhabi-based International Holding Company (IHC) and New York-based Alpha Wave Global, as part of its equity financing round, reported the news agency Reuters.

“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,” said the company in the official statement cited in a PTI report.

The company did not disclose any financial details of the deal. The announcement comes after the Singapore-headquartered global investment firm Temasek agreed to acquire a 10 per cent stake for ₹8,500 crore in one of the largest snack makers in India.

“The partnership represents patient capital and long-term support to Haldirams' growth plans,” a company spokesperson told the news agency Reuters.

Haldiram Temasek Deal

Haldiram Temasek deal's financial advisor, PwC's investment banking team, on Sunday, March 30, announced that the investment giant has agreed to acquire a 10% stake for ₹8,500 crore in Haldiram Snacks Food Pvt. Ltd, reported Mint citing people who were aware of the development.

The Temasek deal values Haldiram's business at $10 billion or ₹85,000 crore. As per the report, the investment giant will acquire an equity stake from existing shareholders of Haldirams.

This positions Haldiram for its expansion plans for increasing the brand's business in both the domestic and the international markets. However, the financial details were not officially revealed.

“We are thrilled to welcome Temasek as an investor and partner in Haldirams. We look forward to working with them to harness the value they bring from their experience in the consumer space to accelerate our growth and strengthen our ability to meet evolving consumer demands. We also extend our gratitude to PwC and Khaitan & Co for their dedicated support during this transaction,” a spokesperson from Haldiram's told the news portal.

The transaction is also subject to regulatory approval and is expected to close soon.

“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.