Tata Consumer Products Explores Majority Stake Acquisition in Haldiram's

6 Sept 2023, 12:30 pm · 1102d ago · 1 min read · Indianweb2.com

Stage

Acquisition

Tata Consumer Products, the consumer goods division of Tata Group, engaged in exploratory discussions to acquire a controlling stake of at least 51% in iconic Indian snack manufacturer Haldiram's. Negotiations hit a roadblock over valuation expectations, as Haldiram's sought a $10 billion valuation despite reporting annual revenue of approximately $1.5 billion. Tata Consumer, which generates around $1.7 billion in annual revenue from packaged salt, pulses, spices, and beverages, deemed the valuation ask excessively high. If successfully completed, the transaction would significantly bolster Tata Group's presence in India's fast-growing packaged food and traditional snack market.