U.S. private equity firm Blackstone has adjusted its investment approach with Haldiram’s, a prominent Indian snacks and restaurant chain, now pursuing a minority stake of around 20%, as reported by Reuters. This shift follows initial interest in acquiring a controlling 75% stake, a plan that encountered reluctance from Haldiram’s management to relinquish majority control.
The revised talks focus on an estimated valuation of $8 billion for Haldiram’s, though differences reportedly persist, as Haldiram’s expects a valuation closer to $12 billion.
Haldiram’s, which commands about 13% of India’s $6.2-billion savory snacks market, remains highly attractive to foreign investors due to its extensive retail reach and strong brand presence. Additionally, the company operates over 150 restaurants nationwide, further enhancing its profile in India’s fast-expanding food and beverage industry.
The ongoing discussions underscore Haldiram’s strong valuation expectations and reflect Blackstone’s flexibility in securing a position within one of India’s leading consumer brands.
