Blackstone-led consortium is interested in acquiring the snacks business:
A consortium that includes Blackstone, Singapore state fund GIC, and the Abu Dhabi Investment Authority (Adia) is in discussions to acquire a majority stake in India’s Haldiram’s snacks business, valued at up to $8.5 billion, according to two sources with direct knowledge of the matter.
Haldiram’s, a well-known brand in India, operates over 150 restaurants offering local cuisine, sweets, and Western dishes. The consortium, led by Blackstone, has submitted a non-binding bid for a 75 percent stake, although the final percentage and valuation are still under negotiation. GIC and Adia, both investors in the company’s funds, are also part of the bid. These sources requested anonymity as the discussions are private.
India’s The Economic Times was the first to report the deal talks. Haldiram’s CEO Krishan Chutani, Adia, and Blackstone declined to comment, while GIC did not immediately respond.
Last year, Reuters reported that India’s Tata Group was in talks to acquire a majority stake in Haldiram’s entire snacks and restaurants business, which Haldiram’s valued at $10 billion. However, those talks have ended, and no deal with Tata is currently in progress, a third source with direct knowledge stated on Tuesday.
