Haldiram Snacks gets bid from Global Investors Blackstone, ADIA, GIC consortium
Will the amazing story of Haldiram come to an end, Why did the matter reach the point of sale? Who will purchase the ₹66400 crore business next?
Why is Haldiram the target of the bid?
Numerous other foreign corporations, including Blackstone, have bid for the country’s popular Namkeen brand, Haldiram. The report states that Haldiram’s valuation for this bid ranges from 8 to 8.5 billion dollars, or between Rs 66400 crore and Rs 70500 crore. However, the question emerges: why is this 87-year-old business up for sale when everything is going well? Do you remember that earlier, there were also attempts to sell Haldiram? Companies like Tata and PepsiCo tried to buy it. But no agreement could be reached. Now, foreign companies are trying to own haldiram.
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Haldiram Most Popular Snack Brands in India
Haldiram is one of India’s most popular Snack brands because it makes the middle class feel premium while at the same time reaching the common people through packets of 5 and 10 rupees.
The popular namkeen and snack-making company, Haldiram, could soon be up for sale. Many people want to purchase this company. The owner of this desi tasting company may be a foreigner. Blackstone, leading a consortium, has placed a bid to purchase a 75 percent stake in the company. Apart from Blackstone, the Abu Dhabi Investment Authority and Singapore State Fund GIC have also bid for this.
Is this a major reason?
In 1937, Ganga Bishan Agarwal founded Haldiram as a small shop in Bikaner. The company manufactures a variety of sweets and snacks, from Son Papdi to dry samosas, mathri, salty bhujia, mixtures, ready-to-eat, biscuits, cookies, and so on. The new generation of the family does not show much interest in taking this business forward. The family has no interest in moving this business forward. The new generation of the Agarwal family has also distanced itself from the day-to-day operations of the company. The company appointed KK Chutani as CEO instead of taking on the responsibility.
After the division, the Haldiram Company is operated in three parts with one name and one logo. One faction operates from Kolkata, one from Delhi, and one from Nagpur. Manohar Agarwal and Madhusudan Agarwal handle the Delhi business, while Kamal Kumar Shivkishan Agarwal handles the Nagpur business. This deal does not include Haldiram’s restaurant business operating from Kolkata. However, Haldiram has not released an official statement about this deal. Haldiram has received bids from Blackstone, Abu Dhabi Investment Authority, and Singapore State Fund GIC, but it’s unclear who will assume responsibility. News source:- By Zee News via Dailyhunt
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