Haldiram's Delhi, Nagpur factions complete merger of FMCG business

A new chapter begins in the Haldiram story, and it's a significant one, said CEO Krishan Kumar Chutani

Don't want to miss the best from Business Standard?

The process of merging Haldiram's Nagpur and Delhi branches to form Haldiram Snacks Food Private Ltd has been completed, informed its CEO Krishan Kumar Chutani on the social media platform LinkedIn.

"A new chapter begins in the Haldiram story, and it's a significant one," Chutani posted on LinkedIn on Monday.

The FMCG businesses of Haldiram Snacks Private Ltd (Delhi) and Haldiram Foods International Pvt Ltd (Nagpur) have come together as one -- Haldiram Snacks Food Private Ltd (HSFPL).

"This isn't just a merger. It's a fresh start, a meaningful coming together of legacy, passion, and a shared vision for the future. Where timeless flavours meet bold ideas, and the journey only gets more exciting from here," said Chutani.

The merger has already received regulatory clearances from fair trade regulator CCI and respective benches of the National Company Law Tribunal (NCLT) in 2023.

In HSFPL, the Delhi unit holds 56 per cent stake and rest 44 per cent is owned by the Nagpur branch.

The development comes a week after India's largest packed snack and sweets company and restaurant operator announced partnering of three strategic investors -- Singapore-headquartered global investment firm Temasek, Alpha Wave Global and International Holding Company (IHC).

The details of the deal was not disclosed, but industry insiders said it was done at a valuation of USD 10 billion (around Rs 85,000 crore), which is considered to be the largest for the Indian packed food industry.

The deal will also help Haldiram's to expand its presence in the international markets , specially in the US and the Middle East, which has a large number of Indian diaspora.

"We are taking meaningful steps toward something bigger. From Indian kitchens to global shelves, we are expanding our reach while staying true to everything that makes Haldiram's special," said Chutani.

Merger of FMCG business, which includes packed food business, will have a larger scale and possibilities and opens up new paths to grow, collaborate, and lead.

Established in 1937 as a retail sweets and namkeen shop in Bikaner, Rajasthan by Ganga Bhishen Agarwal, Haldiram's products are now sold in over 80 countries.

In 2022, it was announced that the packaged snacks businesses of Delhi-based Haldiram Snacks and Nagpur-based Haldiram Foods International would be first demerged and then merged into an entity named Haldiram Snacks Food.