Temasek Holdings, one of Singapore’s premier investment firms, is in talks to acquire a minority stake in Haldiram Snacks, the largest snack maker in India, for around $11 billion.
Temasek Holdings to acquire 10-15% of Haldiram:
Temasek Holdings is in early-stage talks with the owners of Haldiram Snacks to acquire a 10-15% stake in the company, as reported by Bloomberg. Sources close to the matter said this investment could prove to be a stepping stone for the company’s potential listing on a stock exchange or an initial public offering. People involved in the talks have not been keen on going public with it.
While discussions between Temasek and Haldiram Snacks are reportedly underway, they may not necessarily result in a deal, as other potential buyers have also expressed interest in the company. Neither Temasek nor Haldiram has publicly commented on the negotiations.
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Agarwal Family Evaluates Strategic Options for Haldiram:
Founded by Ganga Bishan Agarwal in the 1930s, Haldiram offers a diverse range of food products, from snacks to frozen foods and bakery items, and operates 43 restaurants in and around Delhi.
Meanwhile, Bloomberg News reports that the Agarwal family, Haldiram’s owners, are exploring options to either sell the business or take it public. International investors have recently shown strong interest in India due to its rapidly growing economy, making it an attractive destination for business deals.
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Temasek’s Investment in India:
Notably, Temasek has invested around $37 billion in India over the past two decades, as stated by Vishesh Shrivastav, head of India investments at Temasek. The firm plans to significantly increase its investments in the coming years.
Temasek has been focusing on minority stakes in Indian companies to support their development. Vishesh has highlighted priority investment areas in India, including digital transformation, consumer markets, and sustainable living. Recently, the firm considered investing in VFS Global, valuing the visa outsourcing and technology company at around $7 billion, including debt.
