Temasek Acquires Stake in Haldiram Snacks: A USD 10 Billion Valuation Boost

Temasek, Singapore's investment firm, is acquiring a 10% stake in Haldiram Snacks Food at a USD 10 billion valuation, signaling growth in India's snack market. This deal follows extensive negotiations and could lead to further investments or an IPO. The funds will support domestic and international expansion.

Temasek, a Singapore-based sovereign investment firm, is making waves in the Indian snack industry by acquiring a minor 10% stake in Haldiram Snacks Food. The venture, valued at USD 10 billion, marks a record high for India's packed food sector.

The acquisition comes after Temasek signed a term sheet earlier this week, surpassing bids from major private equity players like Blackstone, Alpha Wave Global, and Bain Capital. The Agarwal family, which leads Haldiram Snacks, may invite additional investors or consider an IPO next year.

This capital infusion is expected to fuel expansion plans for Haldiram Snacks Food both within India and internationally. Known for its savory treats, Haldiram's origins date back to 1937 in Bikaner, and it now boasts a presence in over 80 countries worldwide.

(With inputs from agencies.)