International Holding Company (IHC), an Abu Dhabi-based conglomerate, has made a strategic investment in Haldiram Snacks Food, India's leading snack and food brand. This investment, made alongside New York-based Alpha Wave Global, is part of an ongoing equity funding round for Haldiram’s, which recently also received a significant investment from Singapore’s Temasek.
Collectively, IHC and Alpha Wave Global acquired a 6% minority stake in Haldiram’s, valuing the Indian snack maker at approximately $10 billion. Temasek had earlier invested $1 billion to acquire a 10% stake in the company.
Sanjeev Krishan, Chairperson of PwC India, stated, “Our decade-long collaboration with Haldiram’s exemplifies this commitment. We have supported their strategic planning and decision-making processes. This transaction is not only the largest private equity deal in India's consumer sector but also reflects how Indian domestic businesses are elevating the country's global standing. We are grateful to the Haldiram’s family for their trust and partnership.”
The funds raised through this investment will primarily support Haldiram’s expansion into international markets, especially the United States and the Middle East, where demand for Indian snacks and cuisine continues to rise. The transaction is expected to be finalized soon, pending regulatory approvals.
This strategic investment aligns with Haldiram’s goal of leveraging global resources and expertise to strengthen its presence in international markets.
About Haldiram’s
Founded in 1937 in Rajasthan, Haldiram’s has grown significantly, holding around 13% of India’s $6.2 billion savory snacks market. The recent investments will further aid the company's strategic initiatives, including enhancing product offerings and bolstering its global market presence.
