From fried Indian snacks to local sweet delicacies, family-run Indian snack maker Haldiram’s has long been one of the country’s most popular food brands. Now, foreign investors like Blackstone and Abu Dhabi Investment Authority want a big bite of it.
Haldiram’s was last year also an acquisition target for India’s Tata Group, one of the country’s biggest conglomerates.
Here are some facts about the popular Indian brand:
* Haldiram’s started in 1937 from a “tiny shop” in Bikaner in the western desert state of Rajasthan. It later expanded to New Delhi in 1983.
* The company’s website says it has 1,000 distributors and its products are available in 7 million outlets. It also exports to many foreign countries including Japan, Russia, United Kingdom and Australia.
* One of its most popular snacks is “bhujia,” a crispy fried Indian snack made with flour, herbs and spices and sold for as little as 10 rupees (12 US cents) across mom-and-pop stores. Haldiram’s calls it “an irresistible Indian snack” which can “captivate your taste buds.”
* Haldiram’s started exporting products in 1993. The US was its first market, where it began with 15 savoury products, and later, in 2016, opened its first overseas factory in the UK.
* Beyond snacks, Haldiram’s also sells ready-to-eat and frozen foods such as Indian curries and rice items. It also runs more than 150 restaurants which sell street-style Indian food, as well as Chinese and western cuisine.
* Last year, during deal talks with Tata, Haldiram’s was seeking a $10 billion valuation. Reuters has previously reported Haldiram’s annual revenues are around $1.5 billion.
* Haldiram’s has almost a 13% share of India’s $6.2 billion savoury snacks market, Euromonitor International estimates.
($1 = 83.5200 Indian rupees)
