Sweet And the country’s leading food brand Haldiram Snack Food, which sells other food items, confirmed two new investors IHC (International Holding Company) and Alpha Wave Global to sell their stake. However, the details of the deal were not revealed in the statement. The announcement has been made a day after Haldiram confirmed Haldiram’s acquisition by Singapore -based global investment company Temasake. The details of this deal have also not been disclosed. Haldiram said in a statement that the company is happy to announce two new investors, IHCs (International Holding Companies) and Alpha Wave Global in its issued equity round after Temassak’s recent participation. This strategic step further strengthens the financial situation of Haldiram as it will speed up its global especially expansion plans in America and West Asia.
Sales on valuation of Rs 85,000 crore
According to the statement, the investment reflects Alpha Wave Global and IHC’s commitment to support a major company with strong consumer brands. According to industry sources, IHC and Alpha Wave are collectively receiving about six percent stake in Haldiram Snack Food at an evaluation of $ 10 billion (about Rs 85,000 crore). It is considered to be the biggest evaluation for an Indian ‘packaged’ food industry. Alpha Wave is a global investment company that focuses on three main areas private equity, private loans and public markets, while the United Arab Emirates (UAE) IHC is one of the largest investment companies in the world. In this regard, a spokesperson of the Haldiram group said that this participation is in line with capital and long -term plans for Haldiram’s development plans. With this participation, we are in good position to increase our product offer, expand our operations and pursue our mission to make Haldiram a domestic name in West Asia and other international geographical regions.
Proud to become shareholder and partner
Alpha Wave Global’s co-founder and chairman Rick Geerson said we are proud to become a shareholder and partner in the development stage of Haldiram at the domestic and international level. Also, we will maintain better services and happiness given to customers for almost a century. Syed Basar Shueb, Chief Executive Officer (CEO) of IHC, said, “This investment is in line with the strategy to support Alpha Wave and IHC’s global impact. We are ready to work closely with Haldiram to promote innovation and expand our market appearance. The PWC Investment Banking Team worked as an advisor and Khaitan & Company as a legal consultant for the transaction.
Haldiram was established in 1937
Several private equity companies, including Blackstone, Alpha Wave Global and Ben Capital -led groups, were in the race to take a stake in Haldiram Snack Food. Haldiram Snack Food Food Haldiram Family – is a joint business of Delhi and Nagpur. Earlier, the National Company Law Tribunal approved the process of merging the two sides and is waiting for other regulatory approval. Ganga Bhishan Aggarwal founded it in 1937 as a retail dessert and salty shop in Bikaner, Rajasthan. Today Haldiram’s products are sold in more than 80 countries. It is noteworthy that in 2022 it was announced that Delhi -based Haldiram snacks and Haldiram Foods International in Nagpur would first be separated and then merged into a unit called Haldiram Snack Food.
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