NEW DELHI: Singapore’s state-owned investment firm, Temasek, has finalized a deal to acquire nearly 10% of the snacks division of India’s Haldiram’s for approximately $1 billion, according to two sources familiar with the matter.
The agreement follows months of negotiations, with Temasek viewing Haldiram’s as a strategic asset that aligns with its growing focus on India’s consumer sector, one source revealed. Given the private nature of the discussions, the individuals declined to be named.
Temasek declined to comment on what it described as market speculation. Meanwhile, attempts to reach Haldiram’s CEO, Krishan Kumar Chutani, for a response were unsuccessful.
Haldiram’s, which also operates a chain of restaurants, commands a 13% share of India’s $6.2 billion savoury snacks market, according to Euromonitor International. The company’s snacks division has attracted significant interest from global investors, reflecting the growing appeal of India’s food and beverage sector.
