New Delhi: In a significant development for the Indian food industry, the Agarwal family is planning to sell Haldiram, valued at Rs. 71,000 crores ($9.5 billion), due to the next generation's lack of interest in managing the business. This decision marks a pivotal moment for the 87-year-old company, which has grown to become Indias largest snack and convenience foods manufacturer.
As part of the process, the Delhi and Nagpur units of Haldiram will merge into a single entity named Haldiram Snacks. The National Company Law Tribunal (NCLT) is expected to complete this merger within the next 3 to 4 months, streamlining operations and setting the stage for the anticipated sale.
Reports indicate that a consortium led by Blackstone, the worlds largest private equity fund, along with the Abu Dhabi Investment Authority (ADIA) and GIC of Singapore, has submitted a non-binding bid to acquire a controlling stake in Haldiram Snacks Food Pvt Ltd (HSFPL). This combined entity represents the packaged snacks and foods business of both the Delhi and Nagpur factions of the Agarwal family.
If this deal materializes, it will be the largest private equity buyout in India to date, underscoring the immense value and potential of Haldiram in the global market. The proposed acquisition highlights the growing interest of international investors in Indias thriving consumer goods sector.
Haldiram, founded 87 years ago, has carved out a significant niche in the Indian market with its wide range of snacks and convenience foods, becoming a household name and a staple in Indian cuisine.
The 87-year-old Haldiram is Indias largest snack and convenience foods company.
