The Competition Commission of India (CCI) has given the green light for Alpha Wave Global to acquire a minority stake in Haldiram Snacks Food. This deal is a significant event in India’s food industry. While the exact size of the stake is not officially disclosed, it is reported to be less than 10%.
Haldiram Snacks Food is a major player in the packaged food market. It combines the food businesses of the Haldiram family from Delhi and Nagpur. The company offers a wide variety of products. These include snacks, sweets, ready-to-eat meals, dairy and bakery items, chocolates, and non-carbonated beverages.
According to the CCI, the proposed acquisition will involve Alpha Wave Ventures II LP and Alpha Wave IHC CI, LP. The CCI released a statement confirming the approval. It stated that the deal does not raise any competition law concerns.
Earlier this year, Haldiram announced plans to invite new investors, which included Alpha Wave. This decision came after Singapore-based Temasek acquired a minority stake in the company. Reports suggest that Alpha Wave and IHC are set to acquire about 6% of Haldiram Snacks Food, valuing the company at around USD 10 billion, or roughly ₹85,000 crore. This valuation is one of the highest in India’s packaged food sector.
Haldiram has a rich history that dates back to 1937. It started as a small shop in Bikaner, Rajasthan, selling sweets and snacks. Today, Haldiram is a trusted brand and its products are available in over 80 countries worldwide.
In 2022, Haldiram announced a major restructuring. The Delhi-based Haldiram Snacks and the Nagpur-based Haldiram Foods International merged their packaged snack businesses. This merger aimed to create a stronger unified entity known as Haldiram Snacks Food.
The CCI’s approval is expected to enhance investor confidence in India’s fast-moving consumer goods (FMCG) sector. This sector is experiencing rapid growth due to increasing disposable incomes, urbanisation, and changing consumer preferences.
Alpha Wave Global is known for its investments in Indian startups like Swiggy and Lenskart. Their expertise in scaling consumer brands is expected to benefit Haldiram. The partnership with International Holding Company, one of the largest investment firms globally, will also provide Haldiram with additional resources.
Industry experts believe this investment will help Haldiram expand its operations both in India and internationally. The company aims to innovate its product offerings, improve manufacturing, and enhance its distribution network.
The CCI’s approval signifies a positive environment for investment in India. It highlights the attractiveness of the Indian consumer markets. Haldiram’s ability to attract global investors reflects its strong brand reputation.
As Haldiram continues to grow, this latest investment round sets the stage for further innovation and expansion. The company is well-positioned to lead the next phase of growth in India’s dynamic consumer market.
In summary, the CCI’s nod for Alpha Wave Global and IHC’s minority stake in Haldiram Snacks Food marks a key moment for the company and the Indian food industry. With a stronger capital base and international partnerships, Haldiram is poised for significant growth in the coming years.
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