Fair trade regulator CCI has approved Alpha Wave Global’s proposal to acquire a minority stake in Haldiram Snacks Food. While the exact figure wasn’t disclosed officially, the deal involves less than a 10% stake in the company.
“The proposed transaction entails the acquisition of less than 10 percent of the issued and paid-up equity share capital of the target (Haldiram Snacks Food Pvt Ltd) by the acquirers (Alpha Wave Ventures II LP and Alpha Wave IHC CI, LP),” the Competition Commission of India (CCI) said in a release.
Haldiram Snacks Food represents the combined packaged food businesses of the Haldiram family from Delhi and Nagpur. The company produces and sells a wide range of items, including snacks, sweets, ready-to-eat meals, dairy and bakery products, chocolates, and non-carbonated ready-to-drink beverages.The CCI confirmed the development in a post on X, stating:“CCI approves the acquisition of certain issued and paid-up equity share capital of Haldiram Snacks Food Private Limited by Alpha Wave Ventures II LP and Alpha Wave IHC CI, LP.”Back in March, Haldiram had announced plans to bring in new investors, including Alpha Wave Global. This followed another major update — confirmation that Singapore-based investment firm Temasek had acquired a minority stake in the company.According to industry sources, Alpha Wave and IHC are jointly picking up a roughly 6% stake in Haldiram Snacks Food, valuing the company at around USD 10 billion (approximately ₹85,000 crore). This is considered one of the largest valuations in India’s packaged food sector.Haldiram’s legacy dates back to 1937, when it began as a small sweets and namkeen shop in Bikaner, Rajasthan, founded by Ganga Bhishen Agarwal. Today, its products are available in more than 80 countries.In 2022, it was announced that the Delhi-based Haldiram Snacks and Nagpur-based Haldiram Foods International would first undergo a demerger of their packaged snack businesses, which would later be merged under a single entity—Haldiram Snacks Food.