Major Investment Shake-Up: Haldiram Snacks Welcomes Alpha Wave Global
Alpha Wave Global is set to acquire a 10% stake in Haldiram Snacks Food. The acquisition, approved by the Competition Commission of India, highlights the company's valuation of USD 10 billion. This move comes shortly after Haldiram's stake sale to Singapore-based Temasek, marking a significant milestone in the Indian packaged food industry.
- Country:
- India
The fair trade regulator, Competition Commission of India (CCI), announced on Tuesday its approval for Alpha Wave Global's proposal to acquire a significant stake in Haldiram Snacks Food.
Alpha Wave Ventures II LP and Alpha Wave IHC CI, LP plan to acquire less than 10% of the equity share capital of Haldiram Snacks, a leader in the Indian packaged food market. The transaction underscores the company's impressive valuation of USD 10 billion.
Founded in 1937, Haldiram Snacks Food has grown from a small retail sweets shop to an international brand, with products sold in over 80 countries. The investment follows a recent stake acquisition by Singapore-based investor, Temasek.
(With inputs from agencies.)
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