“The consortium led by Blackstone, along with Abu Dhabi Investment Authority (ADIA) and Singapore’s GIC, has submitted a non-binding bid to acquire a controlling stake in Haldiram’s Snacks Food Private Limited (HSFPL), one of India’s largest snack and convenience food companies, according to Times.”

The report states that they aim to acquire a 74-76% stake in the world’s largest private equity fund and its partner companies, valued at $8-8.5 billion (approximately ₹66,400-70,500 crore).”

“Both ADIA and GIC are limited partners (LPs) in Blackstone’s global fund. The report states that the bid was submitted at the end of last week and if successful, it will be the largest private equity acquisition in India to date.”

The aim of PE firms Blackstone, Temasek Holdings, and Bain Capital is reportedly to acquire a piece of Haldiram’s Snacks.

HFFPL, or Haldiram’s Foods International Private Limited, is a combined packaged snacks and food business of the Agarwal family in Delhi and Nagpur.

The Competition Commission of India had granted approval in April 2023 to segregate the FMCG businesses of Haldiram Foods International Private Limited and Haldiram Snacks Private Limited into a newly formed unit named Haldiram Snacks Foods.

Haldiram presents a range of products under well-known brands such as Haldiram, Haldiram Prabhuji, Bikaji, Bikanervala, Bhikharam Chandmal, and Bikano.

In FY22, Haldiram Foods International Private Limited, based in Nagpur, recorded revenues of ₹3,622 crore, while its subsidiary unit Haldiram Snacks Private Limited reported earnings of ₹5,248 crore. Their combined revenue stood at ₹8,870 crore.