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Haldiram in talks to acquire majority stake in rival Prataap Snacks
Livemint
·
1y ago
Medial
Indian snacks maker Haldiram's is reportedly in talks to acquire a majority stake in Prataap Snacks, valued at $350 million, to expand its presence in the potato chip market. The discussions are at an early stage and the valuation has not been discussed, but Haldiram's is looking for a majority stake of at least 51%. Haldiram's is a larger packaged snacks manufacturer, while Prataap is known for its Yellow Diamond brand of chips. Peak XV Partners, owning around 47% of Prataap Snacks, is looking to fully exit its stake in the company.
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Grapevine: ITC eyes Prataap Snacks; GIC, KKR join race for Carlyle’s stake in Airtel's data centre
VCCircle
·
1y ago
Medial
ITC is said to be exploring the acquisition of a majority stake in Prataap Snacks, as Peak XV Partners, the current stakeholder, is looking to exit. The talks with Haldiram's didn't work out due to a valuation mismatch. Prataap Snacks is well-known for its popular snack products, including Yellow Diamond chips and traditional Indian namkeen under the Avadh brand. In other news, GIC and KKR have joined the race to acquire Carlyle's stake in Bharti Airtel's data centre business.
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Yellow Diamond-maker Prataap Snacks gets new promoters as Peak XV exits
VCCircle
·
10m ago
Medial
Authum Investment and Infrastructure Ltd and Mahi Madhusudan Kela are set to acquire a significant minority stake in Prataap Snacks, a packaged snacks company. This transaction will provide an exit for existing investor Peak XV Partners. The deal involves the acquisition of 1.02 crore and 11 lakh shares of Prataap Snacks by Authum and Kela respectively, for a total of Rs 846 crore. Additionally, an open offer will be triggered, allowing Authum and Kela to acquire up to 26% stake in the company. Prataap Snacks will continue to be listed, with Authum becoming the promoter.
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CCI okays Temasek Holdings minority stake purchase in Haldiram Snacks Food
YourStory
·
2m ago
Medial
The Competition Commission of India (CCI) approved Temasek Holdings' acquisition of a minority stake in Haldiram Snacks Food through Jongsong Investments Pte, acquiring less than 10% of equity. Haldiram Snacks Food combines the Delhi and Nagpur Haldiram businesses, with a merger underway. Additionally, CCI approved Axana Estates LLP, Plutus Wealth Management LLP, and Junomoneta Finsol Pvt Ltd's acquisition of a majority stake in Nazara Technologies Ltd, a gaming and sports media company.
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Singapore's Temasek seeks CCI nod to acquire 10% stake in Haldiram
YourStory
·
4m ago
Medial
Temasek Holdings seeks approval from the Competition Commission of India to acquire a 10% stake in Haldiram Snacks Food through its arm Jongsong Investments. This strategic move values Haldiram at $10 billion. The Agarwal family, Haldiram's promoters, might sell more stakes, potentially considering an IPO in the future. Established in 1937, Haldiram merged its Delhi and Nagpur factions, expanding into markets across 80 countries. The investment aims to support Haldiram’s domestic and international expansion plans.
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Haldiram Snacks mulls IPO; Adanis eye cement plants
VCCircle
·
1y ago
Medial
Haldiram Snacks Pvt Ltd is considering an initial public offering (IPO) as the company's plan to sell to foreign investors faces obstacles. The Agarwal family, owners of Haldiram, is exploring a listing as bids for the company range from $8 billion to $8.5 billion. In other news, the Adani Group is reportedly looking to expand its business into the cement sector and is in talks to acquire multiple cement plants.
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Haldiram promoters resist PE offers; Stripe may buy stake in SBI Payments
VCCircle
·
1y ago
Medial
The promoters of Haldiram Snacks Foods are resisting offers from private equity firms to buy stakes in the company. Despite receiving non-binding offers, the promoters are not interested in selling their shares. This comes as Stripe, the online payment company, is reportedly looking to acquire a stake in SBI Payments.
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Exclusive: Britannia in talks to acquire VC-backed brand
VCCircle
·
11m ago
Medial
Britannia Industries, a leading FMCG company, is in talks to acquire a majority stake in a snacks manufacturer. The Kolkata-based company, with a market capitalization of approximately Rs 1.4 trillion, aims to strengthen its position in the FMCG sector through this deal. The details of the exact brand and the extent of the potential acquisition are yet undisclosed.
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Haldiram's promoters now offer a smaller bite to investors
Livemint
·
9m ago
Medial
The promoters of Haldiram Snacks Food Pvt Ltd. have changed their plan to sell a majority stake in the company and are now looking to offload only 10-15% stake. Private equity firms including Bain Capital, Blackstone, and Temasek Holdings are considering investing in the Indian snack-maker. The investors are aiming to tap into India's growing snacks market, which is expected to double in size by 2032. The deal is currently under due diligence, and PwC India is advising the families on the transaction.
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Grapevine: Haldiram, Alpha Wave Global, Jar, Prosus, GIC, and BharatPe in news
VCCircle
·
8m ago
Medial
Alpha Wave Global is reportedly bidding for a minority stake in Haldiram Snacks Food, while Prosus is in advanced talks to lead a funding round for fintech startup Jar. Singapore's GIC is also exploring options for its stake in Greenko Energy. BharatPe, a digital payment startup, has raised $450 million in a funding round led by Tiger Global, bringing its valuation to $4.5 billion.
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’Largest private equity buyout in India’: Blackstone in advanced talks to acquire controlling stake in Haldiram’s
Livemint
·
1y ago
Medial
Private equity firm Blackstone is reportedly in advanced talks to acquire a controlling stake in Haldiram's, India's largest family-run snacks business. Blackstone, along with its partners Abu Dhabi Investment Authority and Singapore's GIC, has been in negotiations with the Haldiram Agarwal family for several months. The deal, valued at up to ₹70,000 crore, would potentially make it the largest private equity buyout deal in India. However, differences in company valuation and the family's desire to retain a larger share of the business have reportedly delayed the negotiations. Haldiram's has also received bids from Bain & Co. and Temasek Holdings.
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