CCI Clears Temasek’s Jongsong Investments to Acquire Stake in Haldiram Snacks Food

Unknown Apr 02, 2026 1,000 Views

India’s Competition Commission (CCI) has approved the acquisition of a minority equity stake in Haldiram Snacks Food by Singapore’s Temasek Holdings, through its investment arm Jongsong Investments. This move marks a major milestone for India’s iconic snack and sweets brand as i...

Key Highlights:

Deal Details: Temasek’s Jongsong Investments will acquire less than 10% of Haldiram Snacks Food’s equity share capital, valuing the company at around $10 billion. The deal follows months of negotiations, with several global private equity players also having shown interest.

No Competition Concerns: Both parties assured the CCI that the transaction would not raise any competition law issues, regardless of how the relevant market is defined. The acquisition is seen as a straightforward financial investment in India’s booming packaged food sector.

Expansion Funding: The cash infusion from Temasek is expected to help Haldiram fund its ambitious expansion plans in both domestic and international markets. Haldiram, which posted revenues exceeding ₹12,500 crore in FY24, is already present in over 80 countries and is now consolidating its Delhi and Nagpur operations into a single entity.

Strategic Outlook: The Agarwal family, promoters of Haldiram, may bring in additional investors and is reportedly considering an IPO next year to capitalize on India’s buoyant equity markets.

Legacy Brand: Founded in 1937, Haldiram has grown from a small sweets shop in Bikaner to a global packaged foods powerhouse, now poised for its next phase of growth with strong institutional backing.

With CCI’s green light, Haldiram Snacks Food is set to accelerate its expansion and innovation, reinforcing its leadership in India’s fast-growing packaged food industry.

Sources: Business Standard, The Hindu Business Line, NDTV Profit, The Week, LegalEraOnline

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