Alpha Wave Global, IHC invest in Haldiram’s

Alpha Wave Global and International Holding Company have invested in Haldiram’s, following Singapore sovereign fund Temasek picking up a 10 per cent stake in the snacks maker for a little over ₹8,000 crore, helping it to become a global brand.

The financial details of the transactions were not disclosed, but sources put the combined stakes of the two investors at around 5-6 per cent.

“This strategic move further strengthens Haldiram’s financial position as it accelerates its global expansion plans, particularly in the US and Middle East,” advisor to the deal PwC said in a release.

With the backing of Alpha Wave Global and IHC, Haldirams is set to leverage the wide expertise and networks of these investors to broaden its footprint in key international markets such as the US and Middle East, said PwC in the statement.

It would also boost its presence in India, it added. “These markets which demonstrate growing demand for Indian cuisine and snacks, will be the primary focus areas in the company’s global expansion strategy.”

A Haldiram’s spokesperson said the two investors, who had come on board, represented patient capital and long-term support to the company’s growth plans. “With this partnership, we are well positioned to enhance our product offerings, expand our operations, and further our mission to make Haldiram’s a household name in Middle East and other international geographies,” the spokesperson added.

Haldiram’s is known for its wide range of savouries and sweets as well as ready-to-eat meals.

“Over 90 years, the Agarwal family has built Haldiram’s into one of the most loved and iconic brands in India,” said Rick Gerson, Co-founder and Chairman of Alpha Wave Global, adding that it was proud to be a shareholder and partner in the next phase of growth in Haldiram’s.

“Our investment in Haldiram’s fits well with our core strategy of identifying and backing dominant businesses with real competitive moats capable of compounding at robust rates of return,” said Navroz Udwadia, Co-founder of Alpha Wave.