Global Investment Firm L Catterton Invests in Haldiram’s: Strategic Partnership to Fuel Growth in India and Expand Business Globally
American investment firm L Catterton has invested in Indian packaged food company Haldiram’s through a strategic partnership. Under this partnership, L Catterton will support Haldiram’s in improving its supply chain and distribution, geographic expansion, and talent development.
The company will now benefit from L Catterton’s global expertise, industry network, and local talent. It will particularly benefit from the experience of the firm’s India Executive Chairman, Sanjeev Mehta, who previously served as Chairman and MD of Hindustan Unilever.
Chairman Says: We Will Drive Growth for Haldiram’s in the Market
Sanjeev Mehta said, “Haldiram’s is an iconic Indian brand and a leader in the ethnic snacks category in the country. It has significant potential in the global packaged snacks space. We will partner with Haldiram’s to drive growth in India’s burgeoning consumer market and accelerate its internationalization.”
L Catterton Has ₹3.5 Lakh Crore in Capital
L Catterton has invested in several brands in the packaged food space globally. These include Cholula Hot Sauce, Farmley, Ferrara Candy Company, Goodles, Kettle Foods, Kodiak, Little Moons, NotCo, Planted, and Plum Organics. The firm has approximately $39 billion (approximately ₹3.5 lakh crore) in equity capital.
Several Firms Invested in Haldiram’s This Year
Earlier this year, Singapore’s Temasek acquired approximately a 10% stake in Haldiram’s, valuing the company at around $10 billion (approximately ₹90,000 crore). Alpha Wave Global and International Holding Company (IHC) also invested. L Catterton is now the fourth major investor. Earlier this year, in March-April, Haldiram’s sold a 6% stake in its snacks division to Abu Dhabi-based International Holding Company (IHC) and New York-based Alpha Wave Global. According to a Reuters report, Haldiram’s sold this stake at a valuation of $10 billion. However, the company did not disclose the details of the deal at the time.
On March 30, Singaporean sovereign investment firm Temasek signed an agreement to acquire a 10% stake in Haldiram’s snacks division. This deal was valued at $1 billion. Haldiram’s stated that Temasek acquired the 10% stake from the company’s existing shareholders.
