BUSINESS

International venture capital companies are interested in acquiring a majority position in the well-known food business Haldiram

May 14, New Delhi: A worldwide group of investors is apparently in the running to purchase a controlling share for $8.5 billion in the well-known food and snack business Haldiram, which was established in 1937 in Bikaner, Rajasthan. The bid is non-binding.

According to sources, a worldwide consortium including Abu Dhabi Investment Authority (ADIA), Singapore’s GIC, and leading private equity (PE) company Blackstone launched a proposal last week for a potential 76% share in Haldiram Snacks Food.

The worldwide consortium or Haldiram had not yet verified the development.

The food chain is the result of the Agarwal family’s merged businesses in packaged snacks and cuisines from Nagpur and Delhi.

The Delhi faction is in charge of Haldiram Snacks, while the Nagpur faction is in charge of Haldiram Foods International.

It is planned for the two businesses to combine to become Haldiram Snacks Food.

In FY22, the faction centered in Nagpur reported income of Rs 3,622 crore. In the same fiscal year, Haldiram Snacks Private Limited, situated in Delhi, had revenues of Rs 5,248 crore.

There have reportedly been prior efforts to purchase the restaurant business, particularly by venture capital groups including General Atlantic, Warburg Pincus, and Bain Capital.

It began as a retail candy and savory store in Bikaner in 1937, and now its goods are sold in over 80 countries.

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