Haldiram Snacks is attracting significant attention as global food giants express interest in acquiring a stake in the popular Indian brand. PepsiCo has recently entered the bidding war, joining Temasek and Alpha Wave Global, both of whom had already submitted formal proposals last month. These investors are currently in detailed discussions with the Aggarwal family to acquire a 10-15% stake in one of India’s leading ethnic snacks and convenience food companies.
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Sources suggest that senior executives from PepsiCo’s New York headquarters have kicked off early talks with the Aggarwal family regarding a potential minority investment. However, these negotiations are still in the preliminary stages and there’s no guarantee that a deal will come to fruition. Any potential investment would be led by PepsiCo’s global team, with the Indian arm playing a limited role in the process.
The Aggarwal family, which has built Haldiram into a household name, is now looking for its first external investor, with an expected company valuation between Rs 85,000-90,000 crore.
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The ethnic snacks market in India has experienced impressive growth, with both regional players and direct-to-consumer brands gaining traction. While industry leaders like Haldiram, Bikanerwala, Balaji, and publicly listed companies such as Bikaji Foods, Gopal Snacks, and Prataap Snacks dominate the market, it remains highly fragmented. Numerous smaller, local competitors offer lower-priced products, maintain direct distribution channels, and provide better margins for retailers.