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- L Catterton Invests In Haldiram’s: Strategic Partnership To Boost Growth And International Expansion
New Delhi5 minutes ago
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American investment firm L Catterton has invested in Indian packaged food company Haldiram under strategic partnership. In this partnership, L Catterton will support Haldiram in improving supply chain and distribution, geographic expansion and talent development.
The company will now be able to take advantage of L Catterton’s global expertise, industry network and local talent. In particular, it will benefit from the experience of the firm’s India Executive Chairman Sanjeev Mehta, who has previously been the Chairman and MD of Hindustan Unilever.
Chairman said – Haldiram will get growth in the market
Sanjeev Mehta said, ‘Haldiram’s is an iconic Indian brand, which is the country’s leader in the ethnic snacks category. It has huge potential in the global packaged snacks space. By supporting Haldiram, we will drive growth in India’s growing consumer market and accelerate its internationalization.
Haldiram’s snacks are also sold in foreign markets like Singapore and the US. It started with a small shop in 1937.
L Catterton has capital of ₹3.5 lakh crore
L Catterton has invested in a number of brands across the globe in the packaged food space. These include names like Cholula Hot Sauce, Farmlily, Ferrara Candy Company, Goodals, Kettle Foods, Kodiak, Little Moons, Notco, Planted, and Plum Organics. The firm has equity capital of approximately $39 billion (about ₹3.5 lakh crore).
This year many firms invested in Haldiram
Earlier this year, Singapore’s Temasek had taken about 10% stake in Haldiram, the valuation of which was around $10 billion (about ₹90,000 crore). Apart from this, Alpha Wave Global and International Holding Company (IHC) also invested. Now L Catterton has become the fourth biggest investor.
In March-April this year, Haldiram had sold 6% stake in the snacks division to Abu Dhabi based International Holding Company (IHC) and New York-based Alpha Wave Global. According to Reuters report, Haldiram sold this stake at a valuation of $ 10 billion. However, even then the details of the deal were not given by the company.
On March 30, Singapore’s sovereign investment firm Temasek had signed an agreement to buy 10% stake in Haldiram’s snacks division. This deal was done for 1 billion dollars. Haldiram said that Temasek has bought 10% stake of the company’s existing shareholders.
Haldiram started from a small shop in 1937
Haldiram’s started in 1937 as a small sweets and namkeen shop in Bikaner, Rajasthan. Today it is India’s largest ethnic snacks company and its products are sold in more than 80 countries. In April this year, the Delhi and Nagpur units of Haldiram merged to form Haldiram Snacks Food Private Limited.
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