Indian snack giant Haldiram’s has announced the addition of Alpha Wave Global and International Holding Co (IHC) to its ongoing equity financing round, following Singapore’s Temasek’s recent $1 billion investment for a 10% stake. The company, now valued at $10 billion, plans to leverage these investments to fuel its expansion into key international markets, including the United States and the Middle East.
While the specific financial details of the Alpha Wave and IHC deals remain undisclosed, Haldiram’s emphasised the strategic nature of these partnerships. “The partnership represents patient capital and long-term support to Haldirams’ growth plans,” a company spokesperson stated.
Haldiram’s, which originated as a small shop in Rajasthan in 1937, has grown into a dominant force in India’s savory snacks market. Euromonitor International estimates the company holds a near 13% share of the $6.2 billion market, making it a highly attractive asset for foreign investors. Its popular “bhujia” snack, widely available at affordable prices, has contributed significantly to its widespread appeal.
The transaction, subject to standard regulatory approvals, is expected to close shortly.
New York-based Alpha Wave Global, known for its investments in companies like SpaceX and Feastables, brings a strong portfolio to the table. UAE-based IHC, with its diverse investments spanning finance and agriculture, further strengthens Haldiram’s strategic investor base.
PwC’s investment banking team served as the financial advisor for the deal, facilitating the new partnerships.
Haldiram’s is poised to capitalize on these investments to accelerate its global expansion, solidifying its position as a major player in the international snack food industry.
(With Reuters Inputs)
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