L Catterton India, led by ex-HUL MD Sanjiv Mehta, invests in Haldiram's

L Catterton India, led by ex-HUL MD Sanjiv Mehta, invests in Haldiram's

L Catterton, a leading global consumer-focused investment firm has entered into a strategic partnership with and invested in popular packaged food company Haldiram’s, according to an official announcement. Sanjiv Mehta, the former CEO and Managing Director of Hindustan Unilever Limited is the Executive Chairman of the investment firm's India operations.

The deal size and the valuation were not disclosed, but sources said that that L Catterton, which manages around $39 bn of equity capital across private equity, credit and real estate, is likely to have picked up a minority stake.

The latest transaction makes L Catterton the fourth external investor to pick up stake in Haldiram's following Temasek , Alpha Wave Global and UAE's IHC.

On March 30, 2025, Haldiram Snacks Food Pvt. Ltd said it had entered an agreement with Singapore-headquartered global investment firm Temasek. Alpha Wave Global and IHC announced their investments later. The three firms together picked up around 15 per cent stake in the food major.

On March 11, Moneycontrol was the first to report that Temasek would soon reach definitive agreements to pick up a minority stake of around 9 percent in Haldiram Snacks for around Rs 8,000 crore.

A 9 percent stake for Rs 8,000 crore translated into a valuation of around Rs 89,000 crore (around $10 billion) for the entire firm, making it one of the biggest transactions in the domestic consumer segment in recent times.

The announcement on the L Catterton investment stated, "The collaboration aims to fortify Haldiram’s market leadership in the country and accelerate its international expansion on the back of its robust fundamentals, brand equity, and growth potential. With the partnership, Haldiram’s, which is seeking to foster a global " India for the World" brand, will be able to tap into L Catterton’s global consumer sector expertise, operating prowess, and industry network, as well as local talent, insights, and relationships."

Sanjiv Mehta commented, “Haldiram’s is an iconic Indian brand that resonates across the country as the undisputed leader in the ethnic snacks category and has significant potential to become a global brand in the packaged snacks space. We are delighted to back Haldiram’s and drive further growth in India’s evolving and flourishing consumer market, as well as galvanise its internationalisation.”

L Catterton has significant experience in building brands in the packaged food space across the world. Current and past investments in the space include Cholula Hot Sauce, Farmley, Ferrara Candy Company, Goodles, Kettle Foods, Kodiak, Little Moons, NotCo, Planted, and Plum Organics.