Singapore's Temasek to buy minority stake in Haldiram snacks

IANS March 30, 2025 262 views

Singapore’s Temasek is acquiring a minority stake in Haldiram, India’s beloved snack giant, in one of the country’s largest consumer sector deals. The investment will help Haldiram expand its domestic and international footprint while competing with global FMCG players. This comes as a Blackstone-led consortium eyes a separate 20% stake, valuing the company at $8 billion. The deal highlights growing investor confidence in India’s packaged food industry.

"This transaction reflects domestic businesses elevating India's positioning globally." – Sanjeev Krishan, PwC India
New Delhi, March 30: Singapore-based investment firm Temasek on Sunday announced that it has signed an agreement to acquire a stake in Haldiram Snacks Food Private Limited from its existing shareholders.

Key Points

1

Temasek buys 10% stake via Jongsong Investments

2

Deal valued at $8B amid Blackstone-GIC consortium talks

3

Funds to fuel Haldiram's domestic and global expansion

4

PwC India advises on landmark consumer sector transaction

The companies announced the deal in a press release. The transaction is currently awaiting regulatory approvals and is expected to be completed soon.

While the exact financial details of the deal have not been officially disclosed, reports suggest that Temasek is looking to buy around a 10 per cent stake in Haldiram through its subsidiary, Jongsong Investments Pte.

In March, the company sought approval from the Competition Commission of India (CCI) for this investment.

"This transaction is not only the largest private equity consumer deal in India, but also a reflection of domestic businesses that continue to elevate India's positioning on the global stage," said Sanjeev Krishan, Chairperson, PwC India, which acted as the exclusive financial advisor. Law firm Khaitan & Co advised on the legal aspects.

The company plans to use the funds from this transaction to expand its business, both in India and internationally.

A spokesperson for Haldirams 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 to accelerate our growth and meet evolving consumer demands."

Haldiram, one of India's largest packaged food manufacturers, was founded in 1937 and is known for its wide range of snacks, sweets, and ready-to-eat products.

The company has a strong presence in India and international markets. Temasek, which has a net portfolio worth $288 billion as of March 31, 2024, has been actively investing in India's consumer and food sector.

This investment comes at a time when Blackstone Inc., along with Singapore's GIC and Abu Dhabi Investment Authority, is reportedly in talks to buy a separate 20 per cent stake in Haldiram.

According to media reports, this consortium is the preferred bidder for the stake and is looking to invest around $1.6 billion, valuing the company at about $8 billion.

Reader Comments

R
Rahul K.
Big move for Haldiram! Their snacks are already everywhere in India, but with Temasek's backing, we might see them become a global brand like Lay's or Pringles. Exciting times for Indian FMCG! 🇮🇳
P
Priya M.
I hope this doesn't mean they'll change their classic recipes. Haldiram's aloo bhujia is perfect just the way it is! Maybe they could focus on healthier versions though - less oil would be nice.
A
Amit S.
Interesting that they're getting investment from multiple sources. $8 billion valuation seems high, but Haldiram does have that brand recognition. Their pani puri kits are my guilty pleasure!
N
Neha P.
While this is great for business, I'm concerned about traditional Indian brands losing their identity when big investors come in. Hope they maintain the authentic flavors that made them popular in the first place.
V
Vikram J.
Smart move by Temasek! Indian snack market is booming and Haldiram has great distribution. Wonder if we'll see more Indian snacks in Singapore supermarkets soon? Their bhujia would sell like crazy there.
S
Sonia R.
The article mentions international expansion - as an NRI, I really hope this means better availability in the US! Currently have to pay premium prices at Indian stores. More competition might bring prices down 🙏

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Your email won't be published


Disclaimer: Comments here reflect the author's views alone. Insulting or using offensive language against individuals, communities, religion, or the nation is illegal.

Tags:
Temasek Haldiram private equity India snacks food investment Blackstone GIC