Temasek’s strategic investment in Haldiram Snacks has sent shockwaves through India’s consumer sector. The Singapore sovereign wealth fund has signed definitive agreements to acquire a 9-10% minority stake in Haldiram Snacks through its arm Jongsong Investments Pte. This significant move values Haldiram at approximately ₹85,000-89,000 crore ($10 billion), making it one of the largest transactions in India’s consumer sector. Official announcement is expected post-regulatory approvals.
Investment Details and Regulatory Approval
The deal involves the acquisition of issued and paid-up equity share capital and falls under section 5 of the Competition Act, 2002. To proceed, Temasek filed an application with the Competition Commission of India (CCI) on March 20, 2025. The CCI filing considers various relevant markets, including packaged food products, snacks, and non-carbonated beverages. Both Temasek and Haldiram assert that the transaction does not raise competition law concerns.
Company Profiles
Haldiram Snacks is India’s largest packaged snack and confectionery company, operating as a multinational FMCG giant. The company represents the combined FMCG business of the Delhi and Nagpur families. For those interested in snacking trends, you can check out our analysis on snacking trends during economic uncertainty. Temasek, with its proven track record in the consumer sector and partnership mindset, was chosen as the investor. You can visit Haldiram’s official website at https://www.haldirams.com/ for more information.
Implications of the Investment
The proceeds from Temasek’s investment will fund Haldiram’s domestic and international expansion. Haldiram is also considering selling additional minority stakes to other investors, having previously received interest from Blackstone and Alpha Wave Global. This pre-IPO transaction suggests potential plans for a future public offering. As Haldiram expands, it will be interesting to see how it navigates international markets, particularly in regions with a strong demand for Indian snacks.
Quotes and Reactions
A Haldiram group spokesperson expressed enthusiasm about the partnership, stating, “We are thrilled to welcome Temasek as an investor and partner in Haldirams.” The spokesperson added, “We look forward to working with them to harness the value they bring from their experience in the consumer space to accelerate our growth and strengthen our ability to meet evolving consumer demands.” For insights into evolving consumer demands, you might find our article on snacking trends in 2024 informative. If you’re a dessert shop owner, you might be interested in submitting your business to our directory.
Timeline of Key Events
Key events leading up to the deal include reports emerging on January 12, 2025, of Temasek and Haldiram nearing a final agreement. Temasek signed definitive agreements for the minority stake on March 12, 2025, and filed the CCI application on March 20, 2025. The deal is expected to close soon, pending regulatory approvals. As the snacking industry continues to evolve, trends such as healthy snacking choices in 2025 will be crucial for companies like Haldiram. If you have a dessert recipe you’d like to share, consider submitting it to our site.
