“A new chapter begins and it’s a significant one,” ethnic snacks maker Haldiram’s chief executive KK Chutani wrote on social media platform LinkedIn on Monday afternoon, to announce the merger of two family entities, Haldiram Snacks Delhi and Haldiram Foods International.
The Delhi and Nagpur factions of the snacking giant, have completed their merger process to form Haldiram Snacks Food Private Limited, India's largest snacking company.
“Bringing these two forces together means more than scale, it means possibilities. From Indian kitchens to global shelves, we’re expanding our reach,” Chutani wrote.
The development comes a week after the snacking major announced three back-to-back strategic investors - Alpha Wave Global, International Holding Company (IHC) and Singapore’s Temasek, all three deals aimed at expanding the snacks maker’s presence in international markets, specially in the US and the Middle East.
"The merger means new paths to grow, collaborate, and wider opportunities," Chutani’s post added.
The development comes one year after the Competition Commission of India (CCI) had approved the merger of Haldiram Snacks and Haldiram Foods into Haldiram Snacks Food.
While Haldiram Snacks Private Limited was led by Manohar Agarwal and Madhu Sudan Agarwal, Haldiram Foods International Private Limited was operated by the Nagpur entity led by Kamalkumar Agrawal.
Haldiram leads in the domestic Rs 47,000 crore snack food market, ahead of rivals such as PepsiCo, ITC, Balaji Snacks, and dozens of smaller brands.
Chutani, the first outsider chief executive of the group, was roped in two year back, to streamline the complex family-held business operations of the diversified group, and pave the way for a listing.
While Alpha Wave and IHC are backed by billionaire Sheikh Tahnoon bin Zayed, Temasek is Singapore-based. The deals value India’s largest snack foods company at a $10 billion valuation, for a 15% stake.
The Delhi and Nagpur factions of the snacking giant, have completed their merger process to form Haldiram Snacks Food Private Limited, India's largest snacking company.
“Bringing these two forces together means more than scale, it means possibilities. From Indian kitchens to global shelves, we’re expanding our reach,” Chutani wrote.
The development comes a week after the snacking major announced three back-to-back strategic investors - Alpha Wave Global, International Holding Company (IHC) and Singapore’s Temasek, all three deals aimed at expanding the snacks maker’s presence in international markets, specially in the US and the Middle East.
"The merger means new paths to grow, collaborate, and wider opportunities," Chutani’s post added.
The development comes one year after the Competition Commission of India (CCI) had approved the merger of Haldiram Snacks and Haldiram Foods into Haldiram Snacks Food.
While Haldiram Snacks Private Limited was led by Manohar Agarwal and Madhu Sudan Agarwal, Haldiram Foods International Private Limited was operated by the Nagpur entity led by Kamalkumar Agrawal.
Haldiram leads in the domestic Rs 47,000 crore snack food market, ahead of rivals such as PepsiCo, ITC, Balaji Snacks, and dozens of smaller brands.
Chutani, the first outsider chief executive of the group, was roped in two year back, to streamline the complex family-held business operations of the diversified group, and pave the way for a listing.
While Alpha Wave and IHC are backed by billionaire Sheikh Tahnoon bin Zayed, Temasek is Singapore-based. The deals value India’s largest snack foods company at a $10 billion valuation, for a 15% stake.
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