Haldiram Bhujiawala Limited, a Kolkata-based company, has secured a significant investment. Bharat Value Fund has invested INR 235 crore (INR 2350 million) in exchange for a minority stake in Haldiram’s “Prabhuji” brand.
India’s snacks market stands at INR 426 Bn in FY24
Notably, India’s retail snacks market is expanding rapidly. It was worth INR 426 billion in FY24 and is expected to reach about Rs 955 billion by FY32, growing at an annual rate of 11 percent. Major players like Haldiram Bhujiawala, with their wide range of products and high quality, are likely to play a significant role in this growth.
Continue Exploring: MP Sudha Murty enlists Food Pharmer aka Revant Himatsingka for food adulteration research
According to India Retailing, Manish Agarwal, MD of Haldiram Bhujiawala released a statement regarding the funding, saying “In the last 60+ years, we have cultivated a loyal customer base by offering delectable snacks and sweets. Our company has been a trendsetter, revolutionising food habits and tastes of India. Leveraging our industry insights alongside BVF’s support, we are strategically positioned to enhance shareholder value and drive growth. This partnership lays a solid foundation for generating long-term economic benefits, ensuring a prosperous future for all stakeholders.”
Haldiram Bhujiawala supplies products to 200,000 retailers
Supplying products to over 200,000 retailers across India through 2,000 distributors,
Haldiram Bhujiawala has a vast network. The company also operates 19 owned stores and 60 franchise stores. With its new investment, Haldiram plans to expand its manufacturing capacity and increase its presence beyond Eastern India. Its three facilities currently have a combined production capacity of 6,035 metric tons per year, positioning the company for significant growth and expansion into new regions.
Continue Exploring: FMCG sector sees 5.7% value growth amid 6% surge in rural consumption
Furthermore, Madhu Lunawat, CIO of Bharat Value Fund added, “We are pleased to partner with Haldiram Bhujiawala Limited. With over six decades of market insight since its founding as a proprietorship in 1958, the company has a deep understanding of consumer behavior and market trends. The new generation’s sharp focus on the modern brand, ‘Prabhuji,’ is particularly noteworthy. We are highly optimistic about the food, FMCG, and consumer goods sectors, and Haldiram is well-positioned to achieve substantial growth in the years ahead.”
With six decades of experience, the snack brand is a well-known brand in Eastern and North-Eastern India. Its popular “Prabhuji” products and restaurants have become synonymous with quality snacks. The company’s brand appeal is enhanced by celebrity endorsements and innovative marketing approaches that resonate with younger generations.
