Haldiram’s, a family identify in India, has greater than 150 eating places promoting native meals, sweets and western delicacies. It additionally has a preferred snacks enterprise for which the deal talks are at the moment ongoing. (Picture: Reuters/File)
The consortium of Blackstone, Singapore state fund GIC and Abu Dhabi Funding Authority has submitted a non-binding bid for a 75% stake and the talks are in early phases, whereas remaining share and valuation has not but been determined
The favored meals and snacks chain Haldiram is up for grabs as a world group of traders has reportedly submitted a non-binding bid to accumulate a controlling stake price $8.5 billion within the firm that was based in Bikaner, Rajasthan in 1937.
A worldwide consortium led by high personal fairness (PE) agency Blackstone, together with Abu Dhabi Funding Authority (ADIA) and Singapore’s GIC, have submitted the bid final week for as much as 76 per cent stake in Haldiram Snacks Meals, based on experiences.
Haldiram or the worldwide consortium was but to substantiate the event.
The meals chain is the mixed packaged snacks and meals enterprise of the Delhi and Nagpur factions of the Agarwal household. Whereas Haldiram Meals Worldwide is led by the Nagpur faction, Haldiram Snacks is led by the Delhi faction.
The 2 entities are set to be merged to create a brand new entity, Haldiram Snacks Meals. The Nagpur-based faction registered Rs 3,622 crore in income in FY22. The Delhi-based Haldiram Snacks Non-public Restricted clocked Rs 5,248 crore in gross sales in the identical fiscal yr.
There have been different makes an attempt up to now to accumulate the meals chain, particularly by VC companies like Bain Capital, Warburg Pincus and Normal Atlantic, based on experiences. Established in 1937 as a retail sweets and savoury store in Bikaner, its merchandise are actually obtainable in additional than 80 nations.
