PE trio Blackstone, Temasek Holdings, Bain Capital aim for a slice of Haldiram Snacks: Report

Haldiram’s offers an array of products under recognisable brands such as Haldiram’s, Haldiram’s Prabhuji, Bikanervala, Bhikharam Chandamal, Bikaji, and Bikano.

Private equity (PE) firms Blackstone Inc, Temasek Holdings Ltd and Bain Capital Lp are weighing a controlling stake in Haldiram Foods International Private Limited, Live Mint reported.

These PE firms are looking to buy at least 51 percent stake in the sweets-and-savouries maker at a valuation of $8-10 billion, the report added.

Moneycontrol couldn't independently verify the report.

The transaction which could be one of India's largest PE deals in the consumer segment is an indication of the deepening of the Indian markets, the report stated.

"For any firm to write such a large cheque in India is a mark of confidence in the business as well as the growth prospect of the brand domestically and globally," the Live Mint report stated quoting a source.

In FY22, Nagpur-based Haldiram Foods International Private Limited reported a revenue of Rs 3,622 crore, while its sister entity Haldiram Snacks Private Limited registered earnings of Rs 5,248 crore. Combined, their total revenue stood at Rs 8,870 crore.

Also Read | Is Haldiram’s really worth $10 billion?

The Competition Commission of India had in April 2023 approved the demerger of the FMCG businesses of Haldiram Foods International Private Limited and Haldiram Snacks Private Limited into a newly created entity called Haldiram Snacks Foods.

Haldiram’s offers an array of products under recognisable brands such as Haldiram’s, Haldiram’s Prabhuji, Bikanervala, Bhikharam Chandamal, Bikaji and Bikano.

Also Read | Haldiram’s: How a small sweet shop in Bikaner became a global snack brand