Two new investors, International Holding Company (IHC) and Alpha Wave Global, have joined Haldirams, the top snack and packaged food brand in India, in its ongoing equity round.
This comes after Temasek’s recent involvement and is a big step toward bolstering the business’s financial standing as it expands internationally, especially in the US and the Middle East.
The deal is anticipated to finalize shortly, pending typical regulatory clearances. Through the strategic alliance, Haldirams will have access to the extensive networks and experience of its new investors, enabling the business to further solidify its position in India while extending its reach into foreign markets.
Haldirams hopes to use this collaboration to increase its influence in the US and the Middle East, two areas that are essential to its expansion plan, in light of the rising demand for Indian snacks and food around the world. The partnership supports Haldirams’ goal of establishing a well-known brand throughout the world for its high-end and genuine products.
“We are excited to welcome IHC and Alpha Wave Global as partners in our journey of global growth,” a Haldirams spokeswoman said. Their investment positions us to improve our product lines, grow our business, and establish Haldirams as a global household name because it reflects patient capital and long-term support.”
The Agarwal family has been transforming Haldirams into one of India’s most cherished and recognizable brands for more than 90 years, said Rick Gerson, co-founder and chairman of Alpha Wave Global. We are honored to join them as partners and stockholders in this next phase of their development, both nationally and globally.
IHC CEO Syed Basar Shueb emphasized, “We are thrilled to collaborate with Haldirams, a company that has established the benchmark for quality in the ethnic Indian snack sector. We are eager to collaborate closely in order to promote innovation and increase its market share.
The deal’s sole financial advisor was PwC Investment Banking, while Khaitan & Co. provided legal advice.
