Temasek, Singapore’s sovereign investment firm, is acquiring a minority 10% stake in Haldiram Snacks Food — India’s largest packaged snack and sweets company and restaurant operator — at a valuation of US$10 billion, according to industry sources. The valuation made Haldiram the largest company in the packed food industry in India.
Haldiram owner, the Agarwal family is also eyeing for another investor in its company which recorded Rs 12,500 crore (US$1.45 billion) in sales in 2024. It is also considering IPO in 2026 as it seeks to raise more funds to support its expansion plans in both domestic and international markets.
Haldiram Snacks Food is the combined business of the 2 fractions of the Haldiram family — Delhi and Nagpur. The National Company Law Tribunal has already approved the merger of the 2 fractions, while it still awaits other regulatory clearances. In 2022, it was announced that the packaged snacks businesses of Delhi-based Haldiram Snacks and Nagpur-based Haldiram Foods International would be first demerged and then merged into an entity named Haldiram Snacks Food.
Established in 1937, Haldiram products are now sold in over 80 countries.
