Haldirams, India’s leading snack and food brand, announced the addition of two new investors, IHC (International Holding Company) and Alpha Wave Global, to its ongoing equity round, following Temasek’s recent participation. This strategic move further strengthens Haldirams financial position as it accelerates its global expansion plans, particularly in the US and Middle East.
The investment reflects Alpha Wave Global’s and IHC’s commitment to backing dominant companies with strong consumer brands. Haldirams, known for its wide range of traditional Indian snacks, sweets, and ready-to-eat meals, has a strong legacy of quality and innovation, and continues to enjoy immense popularity among consumers worldwide.
With the backing of Alpha Wave Global and IHC, Haldirams is set to leverage the vast expertise and networks of these investors to broaden its footprint in key international markets such as the US and Middle East, while strengthening its footprint and presence further in India. These markets which demonstrate growing demand for Indian cuisine and snacks, will be the primary focus areas in the company’s global expansion strategy. This partnership marks a significant step in Haldirams commitment to becoming a globally recognized brand known for its premium and authentic offerings.
Haldirams group’s Spokesperson said “We are excited to welcome IHC and Alpha Wave Global as partners in our journey of global growth. The partnership represents patient capital and long-term support to Haldirams growth plans. With this partnership, we are well-positioned to enhance our product offerings, expand our operations, and further our mission to make Haldirams a household name in Middle East and other international geographies.”
Rick Gerson, Co-founder and Chairman of Alpha Wave Global said “Over 90 years, the Agarwal family has built Haldirams into one of the most loved and iconic brands in India. We are proud to become a shareholder and partner with Haldirams in this next stage of their growth both domestic and internationally; while maintaining the delight they have brought to customers for close to century”
Syed Basar Shueb, CEO, IHC said “We are excited to join hands with Haldirams, a brand that has set the standard for excellence in the ethnic Indian snacks industry. This investment aligns with Alpha Wave’s and IHC’s strategy to support leading companies that are making a global impact. We look forward to working closely with Haldirams to drive innovation and expand its market presence.”
Navroz Udwadia, Co-founder, Alpha Wave said “Our investment in Haldirams fits well with our core strategy of identifying and backing dominant businesses with real competitive moats capable of compounding at robust rates of return. Haldirams is one of India’s most beloved homegrown brands with 90+ year legacy, and deep customer love. We are thrilled to partner with the Haldirams family as we begin the next phase of the company’s growth journey”
Sanjeev Krishan, Chairperson, PwC in India, said “At PwC, we take pride in being catalysts of entrepreneurial success—helping businesses transform into global giants. Our decade-long collaboration with the Haldirams exemplifies this commitment. Over the years, we have advised them on various aspects of strategic planning and decision making. This transaction is not only the largest private equity consumer deal in India, but also a reflection of domestic businesses that continue to elevate India’s positioning on the global stage. We thank the Haldirams family for trusting us and giving this opportunity.”
PwC Investment Banking team acted as the exclusive financial advisor to the transaction and Khaitan & Co acted as the legal advisor.
The transaction, which is subject to customary regulatory approvals, is expected to close soon.
