Haldiram Snacks Food Pvt. Ltd., the iconic Indian multinational snacks and sweets brand, has officially announced that Temasek, a Singapore-headquartered global investment company, will become its strategic investment partner. Temasek will acquire an equity stake from Haldiram’s existing shareholders, positioning the company for further expansion both in India and globally.
The transaction, expected to close soon subject to customary regulatory approvals, is estimated to be worth Rs 8,000 crore for a 9% stake, implying a valuation of approximately Rs 89,000 crore (around $10 billion) for Haldirams—marking one of the largest private equity consumer deals in Indian history.
The agreement underscores Haldiram’s vision of scaling up its operations and strengthening its presence in an increasingly competitive global market.
Official Statements
A Haldirams spokesperson said:
“We are thrilled to welcome Temasek as an investor and partner. We look forward to working with them to harness their experience in the consumer space and accelerate our growth. We also thank PwC and Khaitan & Co for their dedicated support during this transaction.”
PwC Investment Banking acted as the exclusive financial advisor, while Khaitan & Co provided legal counsel.
Sanjeev Krishan, Chairperson, PwC India, added:
“This transaction is not only the largest private equity consumer deal in India, but also a reflection of Indian businesses elevating the country’s positioning on the global stage. We are proud to have supported Haldirams in their journey.”
About Haldirams
Founded in 1937, Haldirams is one of India’s most recognized food brands, known for its extensive portfolio of snacks, sweets, and ready-to-eat products. It is widely regarded as one of the most trusted brands in Indian households and has a significant international footprint.
About Temasek
With a net portfolio value of S$389 billion (US$288 billion) as of March 31, 2024, Temasek operates on commercial principles and is guided by its purpose: “So Every Generation Prospers.” It has 13 offices across 9 countries, including Mumbai, Singapore, and New York.
