Haldiram Snacks Meals (Haldirams), the Indian multinational snacks and sweets firm, has entered into an agreement with Singapore-headquartered world investment agency Temasek to sell an fairness stake held by present shareholders, PwC mentioned in a press launch.
The agreement will see Temasek purchase an fairness stake from the prevailing shareholders of Haldirams, it added. This transaction positions Haldirams to proceed its bold enlargement plans each in India and internationally, solidifying its presence in an more and more aggressive market.
The discharge didn’t disclose the quantity of stake to be bought and at what valuation.
A Haldirams Group spokesperson mentioned, “We’re thrilled to welcome Temasek as an investor and accomplice in Haldirams. We glance ahead to working with them to harness the worth they convey from their expertise within the shopper area to speed up our progress and strengthen our potential to meet evolving shopper calls for. We additionally prolong our gratitude to PwC and Khaitan & Co for his or her devoted assist throughout this transaction.”
Sanjeev Krishan, Chairperson, PwC in India, mentioned “At PwC, we take delight in being catalysts of entrepreneurial success — serving to companies remodel into world giants. Our decade-long collaboration with the Haldirams exemplifies this dedication. Over time, we’ve got suggested them on numerous strategic planning and choice making… This transaction will not be solely the biggest personal fairness shopper deal in India, but additionally a mirrored image of home companies that proceed to elevate India’s positioning on the worldwide stage. We thank the Haldirams household for trusting us and giving this chance.”
PwC Investment Banking workforce acted because the unique monetary advisor to the transaction and Khaitan & Co acted because the authorized advisor. The transaction, which is topic to customary regulatory approvals, is predicted to shut quickly.
Based by Ganga Bishan Agarwal within the Thirties, Haldirams sells a variety of meals from candy and savoury snacks to frozen meals and breads. It additionally runs 43 eating places in and round Delhi, in accordance to its web site.
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