Singapore’s state-owned investment firm Temasek has signed a deal to acquire approximately 10% of Haldiram Snacks Foods Private Limited (HSFPL) for over `8,000 crore (around $1 bn), according to sources familiar with the development. The transaction, one of the largest in India’s consumer sector in recent years, values the iconic Indian snacks company at over $9 billion.
The deal comes after months of negotiations between Temasek and Haldiram’s, during which other global investors, including American private equity giants Blackstone and Bain Capital, also expressed interest in acquiring a stake in the company. Haldiram Snacks Foods Private Limited represents the combined FMCG business of the Delhi and Nagpur branches of the Haldiram family.
While the Haldiram brand is operated by three separate entities based in Delhi, Nagpur, and Kolkata, the Delhi and Nagpur families merged their FMCG operations to create HSFPL. The company holds a dominant position in India’s savory snacks market, commanding nearly 13% of the $6.2 billion industry, as per Euromoniter International.
Beyond its snack business, Haldiram’s also operates a chain of restaurants in India and several international markets. Temasek and Haldiram’s have not yet officially commented on the deal. However, the investment aligns with Temasek’s broader strategy to deepen its presence in India’s consumer sector. The firm has previously invested in prominent Indian companies such as Manipal Hospitals and Devyani International, which operates KFC and Pizza Hut outlets in India. The Haldiram’s deal provides Temasek with a foothold in India’s rapidly growing snacks market, which combines traditional flavors with modern retail strategies.