Haldiram's snacks business up for sale? Blackstone-led consortium eyes major stake, says report

A consortium led by Blackstone, along with Singapore state fund GIC and Abu Dhabi Investment Authority (IA), is reportedly in negotiations with India's renowned Haldiram's for a significant stake in its snacks division, news agency Reuters reported, quoting sources familiar with matter.

Haldiram's, a household name across India, boasts a diverse portfolio encompassing over 150 restaurants specialising in local delicacies, sweets, and western cuisine. ditionally, company holds a prominent position in snacks industry, a segment currently under discussion for potential investment, report said.

consortium, spearheed by Blackstone, has reportedly tabled a non-binding offer for a 75 per cent controlling interest, marking early stages of negotiations. However, details regarding final stake percentage and valuation remain undisclosed at this juncture.

This development comes in wake of earlier reports indicating discussions between India's Tata Group and Haldiram's regarding a potential acquisition of a majority stake encompassing both snacks and restaurants business. However, report quoted a separate source with direct insight into matter who confirmed cessation of se talks, dispelling any ongoing discussions with Tata Group as of Tuesday.

(With Reuters inputs.)