L Catterton takes stake in Haldiram's in strategic partnership deal

Consumer-focused investor L Catterton has invested in Haldiram's, aiming to support brand building, product development and supply chain strengthening as the snacks major expands globally

L Catterton, a global consumer-focused investment firm, on Thursday announced that it has entered into a strategic partnership with, and invested in, Haldiram’s, an Indian packaged ethnic foods company, for an undisclosed sum.

 

“With the partnership, Haldiram’s will be able to tap into L Catterton’s global consumer sector expertise, operating prowess and industry network, as well as local talent, insights and relationships,” the investment firm said in a release.

 

It added that the partnership positions Haldiram’s to benefit from L Catterton’s capabilities, including the experience of the firm’s executive chairman for India, Sanjiv Mehta, former chairman and chief executive officer and managing director of Hindustan Unilever.

 

 

The investment will support Haldiram’s in brand building, new product development, supply chain and distribution optimisation, geographic expansion and talent development. It will also help the snacks maker accelerate international expansion, the firm said.

 

On the investment, Mehta said: “Haldiram’s is an iconic Indian brand that resonates across the country as the undisputed leader in the ethnic snacks category and has significant potential to become a global brand in the packaged snacks space. We are delighted to back Haldiram’s and drive further growth in India’s evolving and flourishing consumer market, as well as galvanise its internationalisation.”

 

L Catterton’s current and past investments in the space include Cholula Hot Sauce, Farmley, Ferrara Candy Company, Goodles, Kettle Foods, Kodiak, Little Moons, NotCo, Planted and Plum Organics.

 

In March, Haldiram’s signed agreements to sell a stake to International Holding Company (IHC), Alpha Wave Global and Singapore-headquartered global investment firm Temasek at a $10 billion valuation.

 

Sources had then indicated that Haldiram’s sold 6 per cent in the round for $600 million to IHC and Alpha Wave Global, while Temasek had signed an agreement to acquire a 9 per cent stake in the company.