Blackstone Emerges as Lead Bidder in Haldiram’s Stake Sale
Haldiram Snacks Pvt., India’s largest snacks maker, is set to enter a new phase with its potential stake sale. Blackstone Inc., a prominent global investment firm, has emerged as the lead bidder in the ongoing discussions. This deal, valued at approximately $1.6 billion for a 20% stake, could place Haldiram at an estimated worth of $8 billion. Blackstone is reportedly in talks to partner with Singapore’s GIC and Abu Dhabi Investment Authority (ADIA) to finalize the acquisition.
Founded in the 1930s by Ganga Bishan Agarwal in North India, Haldiram has become a household name, offering a diverse range of products, including sweet and savory snacks, frozen meals, and breads. The company also operates 43 restaurants around Delhi. This sale marks a significant move in Haldiram’s growth strategy, as the company explores various options, including an IPO and a majority stake sale, with a potential valuation of up to $12 billion.
The talks have been ongoing for several months, with Blackstone, GIC, and ADIA at the forefront of the negotiations. Other potential bidders, such as Singapore’s state-owned Temasek Holdings, have expressed interest in acquiring a minority position. While discussions are advancing, no final agreement has been made yet, and the parties are expected to reach a decision in the coming weeks.
As the deal progresses, the global investment community is closely watching the future of Haldiram, a brand known for its deep roots in Indian food culture and its significant presence in both domestic and international markets.
This potential transaction highlights the growing interest in India’s food industry, particularly in companies like Haldiram, which have a strong brand reputation and a diverse product offering. The outcome of this deal will have a lasting impact on the Indian snack industry and could pave the way for further investments and opportunities in the food sector.
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Keywords: Haldiram stake sale, Blackstone, GIC, ADIA, $1.6 billion deal, Indian snack industry, Haldiram Snacks, investment in India, food industry growth, IPO, minority stake sale, Temasek Holdings, Haldiram valuation.
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