Global consumer focused investment firm L Catterton has entered into a strategic partnership with Haldiram, acquiring a stake in India’s largest snacks and packaged foods company. While financial details of the transaction were not disclosed, the investment underscores growing global investor confidence in India’s branded food sector and Haldiram’s long term growth potential.
L Catterton, which manages around $39 billion in equity capital worldwide, said the partnership is aimed at strengthening Haldiram’s leadership in the domestic market while accelerating its international expansion. The firm believes Haldiram’s strong brand equity, deep distribution network and consistent performance provide a solid foundation for global scale up.
Earlier in the year, Haldiram had attracted investments from Temasek, Alpha Wave Global and Abu Dhabi based International Holding Company. Though the company did not reveal valuation details at the time, industry sources pegged the transaction at nearly $10 billion, making it one of the largest valuations ever achieved by an Indian packaged food business.
L Catterton’s India operations are led by Sanjiv Mehta, former CEO and Managing Director of Hindustan Unilever, who now serves as Executive Chairman of the firm in the country. According to the company, Mehta’s experience in building consumer brands and navigating complex markets will play a key role in shaping Haldiram’s next phase of growth.
The partnership is expected to focus on several strategic priorities, including brand building, product innovation, supply chain and distribution optimisation, talent development and geographic expansion. A key objective will be positioning Haldiram as a global brand rooted in Indian food culture, catering to both diaspora and international consumers.
L Catterton has a strong track record in the packaged foods and snacking category, with investments across brands such as Kettle Foods, Ferrara Candy Company, Kodiak, Little Moons and Plum Organics, among others.
Founded in 1937 as a small sweets and namkeen shop in Bikaner by Ganga Bhishen Agarwal, Haldiram has grown into a global food powerhouse, with products sold in more than 80 countries. In April 2025, the packaged snacks businesses of Haldiram Snacks and Haldiram Foods International were merged to create Haldiram Snacks Food, consolidating operations under a single entity.
With L Catterton joining its cap table, Haldiram is poised to deepen its presence at home while taking a sharper push into international markets.
