New Delhi, March 13 – Singapore’s sovereign investment firm Temasek is set to acquire a 10% minority stake in Haldiram Snacks Food, India’s leading packaged snacks and sweets manufacturer, according to industry sources.
As per agency report, Temasek signed a definitive agreement earlier this week to purchase the stake at a valuation of $10 billion (approximately ₹85,000 crore), making it one of the largest deals in India’s packaged food industry.
Haldiram Snacks Food, which also operates a chain of restaurants under the Haldiram brand, reported a revenue exceeding ₹12,500 crore for the fiscal year 2023-24. The agreement with Temasek follows months of negotiations, during which several private equity firms, including Blackstone, Alpha Wave Global, and Bain Capital, were also in the race to acquire a stake in the company.
The Agarwal family, which owns Haldiram, may consider bringing in an additional investor to offload more equity. Additionally, they are exploring the option of launching an initial public offering (IPO) next year. While there were earlier plans to sell a larger stake, the promoters ultimately decided to sell only a minority share.
This infusion of capital from Temasek is expected to support Haldiram’s expansion plans, helping the company scale up operations both in India and select international markets.
Haldiram Snacks Food represents the merged business of two branches of the Haldiram family. The National Company Law Tribunal (NCLT) has already approved their merger, with final regulatory clearances awaited.
Haldiram’s journey began in 1937 when G.B. Agarwal established a small sweets and namkeen shop in Bikaner, Rajasthan. Today, the company exports its products to over 80 countries, making it a globally recognized brand in the packaged food industry.
