Haldiram Namkeen: Haldiram, the favorite company of millions of Indians, may soon go overseas. The world’s largest private equity firm, along with Abu Dhabi Investment Authority and GIC Singapore, is set to buy a stake in Blackstone Haldiram.
Haldiram Namkeen
Haldiram, the favorite company of millions of Indians, may soon be in the hands of a foreign company. The world’s largest private equity firm, along with the Abu Dhabi Investment Authority and GIC Singapore, is set to buy a stake in Blackstone Haldiram.
Late last week, Blackstone made a bid to buy a stake in Haldiram Snacks Food Pvt Ltd (HSFPL). Economic Times has given this information in one of its reports.
In what could be India’s biggest private equity buyout to date, a group led by Blackstone has bid to acquire a majority stake in 87-year-old Haldiram Snacks valuing the firm over $8bn (about ₹70,000cr).https://t.co/u8HUmXha9H
— TOI Plus (@TOIPlus) May 15, 2024
87-year-old Haldiram is India’s largest snacks and convenience company. Blackstone and its partners have expressed interest in buying 74 to 76% stake in Haldiram. It is valued at $8-8.5 billion (66,400-70,500 crore).
Both ADIA and GIC are limited partners or sponsors of Blackstone’s global funds. If the deal goes through, it will be India’s largest ever private equity deal.
Has business in over 100 countries
Ganga Bisan Aggarwal launched the Haldiram brand in 1937. Today the company has business in more than 100 countries. Haldiram sells around 400 types of food products.
These include snacks, namkeens, sweets, frozen food, biscuits, ready-to-drink beverages, pasta, confectionery and ready-to-eat food. The company exports its products to many countries in America and Europe.
Blackstone’s biggest stake in India?
If Blackstone’s proposal is approved, it will be Blackstone’s largest acquisition in India. However, no official statement has come from any company so far in this entire matter. The success of the deal will depend on the merger of Haldiram’s Nagpur and Delhi businesses. The merger was already approved by the CCI in April. Blackstone is very excited about the deal.
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