L Catterton partners with Haldiram, acquires stake in snacks major
Global investment firm L Catterton has acquired a stake in Haldiram, forming a strategic partnership to strengthen its domestic leadership and international expansion. Led by former HUL CEO Sanjiv Mehta, the collaboration aims to boost brand building, product development, distribution, and talent initiatives
New Delhi: L Catterton, a leading global consumer-focused investment firm, on Thursday said it has entered into a strategic partnership with Haldiram and acquired a stake in the country’s leading snacks and food brand.
L Catterton, which manages approximately USD 39 billion in equity capital, has not mentioned any details about investment or valuation at which it has acquired the stake. The firm only said, “It has entered into a strategic partnership with, and invested in, Haldiram”.
“The collaboration aims to fortify Haldiram’s market leadership in the country and accelerate its international expansion on the back of its robust fundamentals, brand equity, and growth potential,” said L Catterton’s statement.
Earlier this year, India’s largest packaged snacks and sweets company and restaurant operator had sold stakes to three strategic investors – – Singapore-headquartered global investment firm Temasek, Alpha Wave Global, and International Holding Company (IHC).
At that time also, details of the deal were not disclosed but industry insiders said it was done at the valuation of USD 10 billion (around Rs 85,000 crore), which is considered to be the largest for the Indian packaged food industry.
L Catterton in India is led by former HUL CEO and Managing Director Sanjiv Mehta, who is currently its Executive Chairman.
According to the statement, Mehta’s experience will help Haldiram to “endeavour to foster a global ‘India for the World’ brand”.
“This will involve unlocking further value via a comprehensive range of initiatives in areas such as brand building, new product development, supply chain and distribution optimisation, geographic expansion, as well as talent development,” it said.
L Catterton has significant experience in building brands in the packaged food space across the world. Its current and past investments in the space include Cholula Hot Sauce, Farmley, Ferrara Candy Company, Goodles, Kettle Foods, Kodiak, Little Moons, NotCo, Planted, and Plum Organics.
Commenting on the development, Mehta said, “We are delighted to back Haldiram’s and drive further growth in India’s evolving and flourishing consumer market, as well as galvanise its internationalisation.” Established in 1937 as a retail sweets and namkeen shop in Bikaner, Rajasthan by Ganga Bhishen Agarwal, Haldiram products are now sold in over 80 countries.
In April 2025, the packaged snacks businesses of Delhi-based Haldiram Snacks and Nagpur-based Haldiram Foods International were merged to form Haldiram Snacks Food.
