PepsiCo in the race to acquire stake in Haldiram

New Delhi| A big cola company of the world has also joined the race to acquire stake in snacks manufacturing giant Haldiram. According to sources, the company has started talks with the family of Haldiram’s owners. This global company showing interest in Haldiram is PepsiCo.
According to media reports, apart from PepsiCo, the names of Temasek and Alpha Wave Global are also among the major contenders to acquire stake in Haldiram. According to reports, he is talking to Haldiram’s promoters Agarwal family. Haldiram is India’s largest ethnic snacks and food manufacturing company. An offer was made by the company last month to sell a 10-15% stake.
According to reports, officials at the PepsiCo headquarters in New York have recently started direct talks with Agarwal family members to buy a minority stake. However, these talks are still in the initial stages and perhaps there is currently no information on how to reach a formal transaction.
According to sources, only PepsiCo’s American parent company will fulfill the funding requirement for the deal. It is being said that the leadership of the Indian unit will play a small role. The Agarwal couple expect a valuation of Rs 85,000-90,000 crore in the deal as they look to sell the stake to an outside investor for the first time.
PepsiCo, a maker of ledge chips, crunchy, salty snacks and Doritos Nacho chips, gets tough competition from Haldiram in the domestic snacks market. PepsiCo has previously acquired Uncle Chips in the year 2000. In India, the turnover of snacks is Rs 42,694.9 crore as per data till 2023. It is projected to reach Rs 95,521.8 crore by 2032.