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In a significant move that marks a new chapter in the Indian snack industry, Haldiram Snacks Food has announced the merger of its Delhi and Nagpur units. This strategic unification is part of a broader restructuring effort aimed at strengthening the company's market position. The merger, approved by the National Company Law Tribunal (NCLT), will result in the formation of a new entity, Haldiram Foods and Snacks. This development coincides with a major stake sale to Temasek, a Singaporean private equity firm, at a valuation of $10 billion[1][2].
Haldiram's, one of India's largest makers of traditional snacks like bhujia, has been managed by two branches of the Agrawal family. The decision to merge the Nagpur and Delhi units reflects the family's commitment to consolidating their business interests and enhancing their competitive edge in the market. This move is expected to streamline operations, improve efficiency, and boost the brand's global presence[1][2].
Temasek, Singapore's state-owned investment firm, has acquired a 10% stake in Haldiram Snacks Food. This deal marks a significant investment in India's consumer goods sector, particularly in the snacks industry. The transaction highlights Temasek's interest in expanding its portfolio in India, where it has already committed substantial investments[1][2].
The Indian FMCG sector, particularly the snacks industry, is witnessing a surge in mergers and acquisitions. This trend reflects the growing competition among FMCG companies to expand their market share through strategic acquisitions. Haldiram's merger and stake sale are part of this broader trend, where regional snack brands are gaining prominence[1][2].
Haldiram's is also expanding its global footprint. Recently, the company announced plans to set up a saffron processing unit in Jebel Ali Free Zone (Jafza), Dubai. This facility, managed by Kesar Expert & Packers, aims to process significant quantities of saffron, leveraging the UAE-India Comprehensive Economic Partnership Agreement (CEPA) for enhanced trade benefits[3].
The merger of Haldiram's Delhi and Nagpur units, combined with the stake sale to Temasek, marks a significant milestone for the company. As Haldiram's continues to strengthen its market position and expand globally, it is poised to remain a leading player in the Indian snack industry. The company's strategic moves are set to enhance its brand value and pave the way for future growth opportunities, including a potential IPO.
