look news india
The country’s leading snack and food brand Haldiram Snack Food on Monday confirmed two new investors – IHC (International Holding Company) and Alpha Wave Global – selling their stake. The company, however, has not shared detailed information about the deal.
The announcement has also surfaced just a day after Haldiram confirmed the Sangapur -based global investment firm Temasek selling a partial stake. The official conditions of the deal with Temasake have also not been made public.
The company expressed a sense of satisfaction
According to the Economic Times report, Haldiram has said in his statement, “We are very happy to welcoming major global investors like IHC and Alpha Wave Global after Temasake.” The company further stated that this investment will further strengthen Haldiram’s financial situation and strengthen its expansion plans in international markets like the US and Middle East.
The biggest packaged food deal ever has
According to the report, IHC and Alpha Wave together are buying about 6 percent stake in Haldiram Snack Food. The deal is on a valuation of $ 10 billion (about Rs 85,000 crore) of the company, which is considered one of the biggest deals in India’s packaged food industry so far.