After reviewing the proposal, the Competition Commission of India (CCI) has granted approval for the merger of Haldiram Snacks and Haldiram Foods’ FMCG business into Haldiram Snacks Food.
As per a press release, Haldiram Snacks and Haldiram Foods’ existing shareholders have acquired a 56% and 44% stake, respectively, in Haldiram Snacks Food.
With its headquarters in Delhi, Haldiram Snacks is primarily engaged in the manufacturing and distribution of various packaged food products in India, such as snacks, namkeen, sweets, frozen food, ready-to-eat/pre-mix food, biscuits, non-carbonated ready-to-drink beverages, pasta, and more. The company’s day-to-day operations are mainly overseen by Manohar Agarwal and Madhu Sudan Agarwal.
Likewise, Nagpur-based Haldiram Foods manufactures and distributes a range of packaged food products, including snacks, namkeen, sweets, ready-to-eat/pre-mix food, biscuits, cookies, non-carbonated ready-to-drink beverages, pasta, and more. The company’s operations are mainly managed by Kamalkumar Shivkisan Agrawal.
After the proposed transaction, the newly established Haldiram Snacks Food will take over the FMCG business currently conducted by HFIPL and HSPL, including the FMCG business conducted by their respective subsidiaries/affiliates. The FMCG business will be collectively owned by HSPL and HFIPL.
The demerger and acquisition of Haldiram Snacks and Haldiram Foods are expected to create a significant impact on the FMCG market in India, considering their status as leading players in the industry. The approval from the CCI is a crucial milestone in the process, and it is anticipated that the companies involved will proceed with the transaction in the upcoming months.