New Delhi: A foreign company can go hand in hand with the well-known domestic company ‘Haldiram’ for snacks. Earlier there were many rumors about selling Haldiram but now for the first time three big foreign companies have submitted a bid to buy its entire business. These companies are private equity firm Blackstone, Abu Dhabi Investment Authority and Singhpur’s GIC.
Blackstone, along with a consortium of two companies, has decided to buy 76 percent of Haldiram’s business. For this, a tender of 8 to 8.5 billion dollars has been made. If the deal is completed, it will be the largest private equity deal in the country. However, the value of Haldiram snacks business is 8.5 billion dollars. Earlier, Bain Capital, Warburg Pinckson and General Atlantic also tried to buy it. Having said that, Tata Group was rumored to be trying to buy Haldiram last year. At that time, the value of the company was estimated at 10 billion dollars.
It is worth noting that Haldiram was established in 1937 and its Musumusia (crispy) ‘Bhuzia’ snacks became very popular in the market. Shivkishan Agarwal started Haldiram’s journey as a sweet shop in Bikaner, Rajasthan. 87 years old Haldiram Snacks Food Private Limited is the oldest snack company in the country. Haldiram is now ruled by two sections of the Agarwal family. A family living in Nagpur is visiting Haldiram Foods International. Haldiram Snacks is managed by members based in Delhi. Haldiram not only caters to the needs of the Indian market. The brand sells well in foreign markets such as Singhpur and the United States of America. It has more than 150 restaurants worldwide.
