Global consumer-focused investment firm L Catterton’s has entered into a strategic partnership with Haldiram’s, marking another major global bet on India’s fast‑growing packaged food and ethnic snacks market. The deal, which includes an equity investment and a long‑term collaboration, is expected to strengthen Haldiram’s leadership in the domestic market while accelerating its international expansion. With this transaction, L Catterton becomes the fourth marquee foreign investor to back the iconic Indian brand, following Temasek, Alpha Wave Global and Abu Dhabi–based IHC.
L Catterton takes minority stake in Haldiram’s
According to the announcement, L Catterton has invested in Haldiram’s Snacks Food Pvt Ltd through a minority stake, though the exact deal size and percentage have not been officially disclosed. Market sources indicate that L Catterton, which manages around 39 billion dollars in equity capital across private equity, credit and real estate strategies, has picked up a meaningful but non‑controlling share. This allows the investment firm to partner closely with the promoters while leaving day‑to‑day operational control with Haldiram’s management.
The latest funding comes on the heels of a March 2025 transaction in which Temasek, Alpha Wave Global and IHC together acquired around a 15 per cent stake in the company. That earlier deal reportedly valued Haldiram’s at about Rs 89,000 crore (roughly 10 billion dollars), making it one of the most valuable consumer brands in India’s food sector. A 9 per cent stake at Rs 8,000 crore was cited as a benchmark for that valuation, underlining investor confidence in the brand’s growth potential.
Backing from Sanjiv Mehta and global consumer experts
L Catterton’s India operations are chaired by Sanjiv Mehta, the former CEO and Managing Director of Hindustan Unilever Limited, one of India’s most respected FMCG leaders. His presence is seen as a strong signal of the fund’s long‑term commitment to building consumer brands in India. L Catterton has a track record of investing in well‑known global food and beverage names, including Cholula Hot Sauce, Farmley, Ferrara Candy Company, Kettle Foods, Kodiak, Little Moons, NotCo, Planted and Plum Organics.
For Haldiram’s, this partnership brings deep sector expertise, access to international best practices and a global network in distribution, marketing and product innovation. The company aims to leverage L Catterton’s experience in scaling packaged food businesses across developed and emerging markets as it intensifies its push into new geographies and modern retail channels.
Strengthening “India for the World” ambitions
In a joint statement, the companies said the collaboration will help “fortify Haldiram’s market leadership in India and accelerate its international expansion” by building on the brand’s strong fundamentals, loyal customer base and wide product portfolio. With a legacy spanning decades, Haldiram’s has become synonymous with Indian ethnic snacks, sweets and ready‑to‑eat products, and is now seeking to position itself as a global “India for the World” brand.
Through the partnership, Haldiram’s will be able to tap into L Catterton’s consumer‑sector expertise, operating capabilities and industry relationships, as well as local talent and insights assembled in markets around the world. The focus areas are expected to include new product development, premiumisation of existing lines, expansion in organised retail and e‑commerce, and possibly entry into more Western‑style snacking categories where Indian flavours can offer differentiation.
Haldiram’s growth story and competitive edge
Sanjiv Mehta described Haldiram’s as an “iconic Indian brand” and the undisputed leader in the ethnic snacks category, with significant potential to become a global packaged snacks powerhouse. He highlighted the company’s robust distribution network, strong manufacturing base and deep emotional connect with Indian consumers across age groups and income levels. According to industry analysts, Haldiram’s domestic dominance, especially in namkeens, bhujia, savoury mixes and traditional sweets, gives it a strong moat against both multinational and local competitors.
At the same time, the brand has steadily diversified into western snacks, frozen foods, ready‑to‑cook meals and quick‑service restaurant formats, giving it multiple growth engines. The infusion of capital and strategic guidance from L Catterton is expected to support investments in capacity expansion, technology, brand building and overseas market entry, especially in regions with large Indian diaspora populations such as North America, the Middle East and the UK.
What this means for India’s consumer sector
The Haldiram’s–L Catterton deal underscores how global investors are increasingly viewing Indian consumer brands as long‑term value creators rather than just tactical bets on short‑term demand spikes. With rising disposable incomes, urbanisation and a young demographic, India’s packaged food and snacking market is expanding rapidly, and home‑grown leaders like Haldiram’s are well‑placed to capture this trend. For in-depth details read here.
For other Indian FMCG and food companies, the transaction sets a benchmark on valuation and strategic partnership structures, signalling that strong regional or category champions can attract blue‑chip global capital if they demonstrate sound fundamentals and scalable business models. For consumers, the partnership is likely to translate into more product innovation, wider availability and potentially more global visibility for Indian flavours on supermarket shelves worldwide.
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