After Temasek, Haldiram's Raises Fresh Investment from L Catterton

Global consumer-focused investment firm L Catterton announced on Thursday, December 18, that it has entered into a strategic partnership with and invested in India’s iconic snacks and packaged food maker Haldiram’s. This comes after the FMCG major received investment from Singapore's Temasek and others earlier this year.

This latest investment marks a significant step in the brand’s expansion plans both in India and overseas, though the financial terms and valuation of the deal were not publicly disclosed.

L Catterton manages around $39 billion in equity capital across private equity, credit and real estate and is known for backing consumer food brands globally.

In India, the firm is led by Sanjiv Mehta, former Chairman and Managing Director of Hindustan Unilever Limited (HUL), who serves as Executive Chairman of L Catterton India.

In its announcement, L Catterton said, "The collaboration aims to fortify Haldiram’s market leadership in the country and accelerate its international expansion on the back of its robust fundamentals, brand equity, and growth potential."

It highlighted that the partnership is designed to focus on brand building, new product development, supply chain and distribution improvements, geographic growth and talent development to accelerate Haldiram’s growth.

Mehta also commented on the matter, saying, “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.”

With this move, L Catterton becomes the fourth external investor to take a stake in Haldiram’s following earlier investments by Temasek, Alpha Wave Global and the UAE-based International Holding Company (IHC).

Earlier this year, these three investors together acquired approximately 15% of the company, with Temasek alone picking up 9% stake for around ₹8,000 crore.

The deal alone reportedly valued Haldiram's at around ₹89,000 crore (around $10 billion), making it one of the largest private-equity deals in India’s consumer goods space.