Blackstone in Advanced Talks to Buy 20% Stake in Haldiram for ₹15,000 Crores: A Game-Changer for India’s Snacks Industry

New Delhi (The Uttam Hindu): Blackstone Inc. is reportedly in advanced negotiations to acquire a 20% stake in Haldiram Snacks, India's largest snacks manufacturer, for approximately ₹15,000 crore. This potential transaction could value the company at around ₹67,800 crore. Blackstone is collaborating with Singapore's state investor GIC Pte and the Abu Dhabi Investment Authority (ADIA) as part of this consortium. The discussions have progressed significantly, with an agreement expected in the coming weeks, although other bidders are still interested in acquiring a stake in Haldiram.

The negotiations follow a lengthy period of deliberation, during which Blackstone initially sought a larger controlling stake but later shifted its focus to a minority investment. The Agarwal family, which owns Haldiram, has been considering various options for the business, including an initial public offering (IPO) and a majority stake sale, with some reports suggesting they are aiming for a valuation of up to ₹1,017,000 crore.

Founded in the 1930s by Ganga Bishan Agarwal, Haldiram offers a diverse range of products including sweet and savory snacks, frozen meals, and operates numerous restaurants primarily in Delhi. The company has seen substantial growth in recent years, with its operating income increasing significantly. While representatives from Blackstone, GIC, ADIA, and Haldiram have declined to comment on the ongoing discussions, the outcome of these negotiations could mark a significant milestone in India's private equity landscape if finalized.