Haldiram Sells Stake To International Holding Company, Alpha Wave Global
The announcement comes a day after Haldiram confirmed acquisition of a minority stake by Singapore-based global investment firm Temasek.
New Delhi:
According to a press release on Monday, Haldirams Snacks Food, the leading snack and food brand in the nation, has indeed reported the sale of its equity to the new investors, IHC (International Holding Company) and Alpha Wave Global. Unfortunately, the declaration did not reveal any information regarding the transaction.
The cross-continental announcement, of course, was made on the next day after Haldiram disclosed that they had received a minority stake from Temasek, a global investment company in Singapore. As before, the details of the transaction were never unveiled.
“Haldirams is a well-known brand specializing in snack and food products in India. They have attracted two new investors, IHC (International Holding Company) and Alpha Wave Global, to lead their equity round, which has also been supported by Temasek in a very recent move”.
The statement said. In the stage of global expansion, Haldirams are adopting a strategic path to implant them in the Centre of the global community, such as the USA and the Middle East, the statement said. “Alpha Wave Global and IHC’s participation in the transaction is an endorsement of the brands of the dominant companies which are attractive and strong in the consumer sector,” the statement summarized.
The balance of power shift took place when a minority stake of about 6 per cent stake is shared by the bidders IHC and Alpha Wave so that the valuation of Haldiram Snacks Food is estimated to be $10b (roughly Rs 85,000 crores) which was in line with the biggest acquirers of the Indian packaged food industry as per reports from trusted sources in the field. Alpha Wave Global is a company dedicated to a three-pronged approach and focus on the investment markets of private equity, private credit, and public markets while IHC is world-class in global investment companies.
“Haldirams has availed themselves of the business intelligence and networking of Alpha Wave Global and IHC to expand not only in the United States and the Middle East but also to other key international markets besides continuing to grow the Indian operation. The company’s global expansion plan will be primarily through India, US, and ME, which are the top demand markets for Indian food and snacks,” they shared.
