Temasek Acquires 10% Stake In Haldiram’s For $1 Billion

India-West News Desk

NEW DELHI– Singapore’s state investment firm Temasek has signed a deal to acquire nearly 10% of India’s Haldiram’s snack business for about $1 billion, Reuters reports.

The agreement follows months of negotiations, valuing Haldiram’s at approximately $10 billion.

Haldiram’s, established in 1937 in Bikaner, holds around 13% of India’s $6.2 billion savory snacks market, according to Euromonitor International.

Temasek’s investment comes shortly after private equity firm Blackstone withdrew from talks for a minority stake, citing valuation concerns.

The Singaporean investor has been expanding its India portfolio, with previous investments in Manipal Hospitals and Devyani International, the operator of KFC and Pizza Hut in the country.