Is Temasek’s 10% Stake In Haldirams A Game-Changer? Full Report

Singapore-based investment firm Temasek has acquired an equity stake in global packaged food giant Haldirams from its existing shareholders. The transaction was facilitated by PwC, who served as the financial advisor. Although specific details of the agreement have not been publicly disclosed, sources indicate that Tamasek has secured a 10% stake in Haldirams, valued at approximately Rs 85,000 crore. This makes it the largest investment in any Indian food company, according to PTI.

Haldirams, a company founded in 1937, is planning to expand its operations beyond India. This strategic partnership with Tamasek is expected to help the company achieve that goal and broaden its global presence.

PwC acted as the exclusive financial advisor for the deal, while Khaitan & Co provided legal counsel.

The deal is still awaiting approval from regulatory authorities. However, a spokesperson from Haldirams said, "We are thrilled to welcome Temasek as an investor and partner in Haldirams. We look forward to working with them to harness the value they bring from their experience in the consumer space to accelerate our growth and strengthen our ability to meet evolving consumer demands," according to ANI.

Know About Haldirams

Founded in 1937, Haldirams has grown into one of the largest packaged food manufacturers, not just in India but across the globe, with a presence in over 80 countries. The company’s diverse product portfolio includes more than 400 items, ranging from sweets and namkeens to snacks and desserts.

Recent Developments in Haldirams

This investment comes at a time when reports suggest that a consortium led by Blackstone Inc. is the preferred bidder for a separate minority stake in Haldirams. Blackstone, in partnership with Singapore's GIC and the Abu Dhabi Investment Authority, is reportedly in talks to acquire a 20% stake in Haldirams for around $1.6 billion. This deal would value the company at approximately $8 billion, as reported by Bloomberg.

As of March 31, 2024, Temasek manages a net portfolio worth $288 billion globally.