Haldiram’s Snacks Food Pvt Ltd, one of India’s largest and most iconic snack brands, is drawing significant interest from global investors. Valued at up to $11 billion, the company has caught the attention of leading private equity players, including Bain Capital, Temasek Holdings, and Blackstone, as they vie for a minority stake in the business. Initially, reports suggested that Haldiram’s promoters were considering selling a controlling 51% stake; however, the focus has now shifted towards offloading a 10-15% minority share.
Haldiram’s is known for its diverse range of 500 products, including its flagship Bhujia, namkeen, sweets, and ready-to-eat foods, all of which have contributed to its market dominance. Its operations span over 100 countries, and its revenue for FY24 is expected to reach approximately ₹14,500 crore, with EBITDA margins improving to 17-18% due to lower commodity prices and strategic price hikes.
In recent years, the Indian snack market has become highly competitive, with Haldiram’s competing against major players such as PepsiCo’s Lays, Balaji Snacks, and Bikaji Foods. India’s overall savory snack market is projected to grow from ₹72,800 crore in 2021 to ₹1.19 lakh crore by 2025, highlighting the lucrative nature of the industry. With global investors racing to secure a piece of Haldiram’s success story, the brand’s future could see further expansion and consolidation through strategic partnerships.
This high-profile interest underscores the growing appeal of India’s rapidly expanding snack market and the unique position Haldiram’s holds within it. The company’s commitment to tradition, combined with modern business practices and international expansion, makes it a valuable asset for global investors looking to capitalize on India’s booming consumer market.