Established in 1937 as a retail sweets and savoury shop in Bikaner, its products are now available in more than 80 countries. 
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Established in 1937 as a retail sweets and savoury shop in Bikaner, its products are now available in more than 80 countries. India’s largest savouries and snacks business Haldiram’s has got another potential global buyer eyeing a stake in it.
Temasek Holdings Pte is in talks to buy a minority stake in Haldiram Snacks Pvt Ltd, Bloomberg reported citing sources.
The Singapore state investor is holding preliminary talks to buy from 10 percent to 15 percent in Haldiram, the report said. The investment may serve as a stepping stone towards a potential initial public offering of the company, it added.
Haldiram’s has been making in the news after major private equity firms like Blackstone, Bain Capital and Singapore’s Temasek expressed interest in buying a piece of the lucrative snacking business.
On May 14, reports emerged that Blackstone in partnership with Abu Dhabi Investment Authority (ADIA) and GIC, aimed to bid for stake acquisition of up to 76 per cent of Haldiram’s Snacks Food Pvt Ltd.
A global consortium led by top private equity (PE) firm Blackstone, along with Abu Dhabi Investment Authority (ADIA) and Singapore's GIC, have submitted the bid last week for up to 76 percent stake in Haldiram's Snacks Food, according to reports.
The Blackstone deal is going to put Haldirams market valuation between Rs 70,000 crore and Rs 78,000 crore, as per the report. The deal will give Blackstone the majority stake, the controlling power and a perpetual licence of Haldiram's product business, according to the report.
Haldiram’s business
The food chain is the combined packaged snacks and foods business of the Delhi and Nagpur factions of the Agarwal family.
While Haldiram Foods International is led by the Nagpur faction, Haldiram Snacks is led by the Delhi faction. The two entities are set to be merged to create a new entity, Haldiram Snacks Food.
The Nagpur-based faction registered Rs 3,622 crore in revenue in FY22. The Delhi-based Haldiram Snacks Private Limited clocked Rs 5,248 crore in sales in the same fiscal year.
There have been other attempts in the past to acquire the food chain, especially by Venture Capitalist firms like Bain Capital, Warburg Pincus and General Atlantic, according to reports.
Established in 1937 as a retail sweets and savoury shop in Bikaner, its products are now available in more than 80 countries.
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