A consortium led by Blackstone, which includes Singapore’s GIC and Abu Dhabi Investment Authority (ADIA), has expressed interest in acquiring a majority stake in the snacks business of Haldiram’s, one of India’s most recognized food brands. Initial discussions have put the valuation of the targeted stake at up to $8.5 billion. Haldiram’s is renowned for its extensive range of local sweets, food items, and over 150 restaurant outlets offering a variety of cuisines. The proposed deal, currently in early phase negotiations, follows previous reports of Haldiram’s engaging in talks with India’s Tata Group for a similar deal, which sought a $10 billion valuation for the entire snacks and restaurants business. Those discussions, however, did not materialize. The specifics of the potential acquisition, including the final percentage of the stake and the agreed-upon valuation, remain under consideration, with no definitive conclusions reached to date. The parties involved have either declined to comment or not provided an immediate response, keeping in line with the private nature of these preliminary discussions.

Private Equity, Food & Beverages,India, Singapore, Abu Dhabi

https://www.zawya.com/en/wealth/alternative-investments/blackstone-led-consortium-eyes-snacks-business-of-indias-haldirams-sources-say-l47qcz9j