Indian snack giant Haldirams gets Abu Dhabi’s IHC as key investor

​In a strategic move to bolster its international presence, Haldiram’s, the renowned Indian snack manufacturer, has secured investments from Alpha Wave Global and Abu Dhabi’s International Holding Company (IHC). This development follows Singapore’s Temasek acquiring a 10% stake in Haldiram’s for approximately $1 billion, elevating the company’s valuation to $10 billion. ​

Haldiram’s Expansion Plans

Established in 1937 in Rajasthan, Haldiram’s has grown to command nearly 13% of India’s $6.2 billion savory snacks market, according to Euromonitor International. The recent capital infusion is set to propel Haldiram’s expansion into key markets, including the United States and the Middle East. A company spokesperson emphasized that the partnership with Alpha Wave Global and IHC represents “patient capital and long-term support” for Haldiram’s growth ambitions. ​

Investor Profiles

Alpha Wave Global: A New York-based investment firm with a diverse portfolio that includes stakes in companies like Elon Musk’s SpaceX and influencer MrBeast’s snack venture, Feastables. ​

International Holding Company (IHC): A UAE-based conglomerate with investments spanning sectors from finance to agriculture. Notably, IHC has previously completed a Dh7.3 billion deal in India’s Adani Group companies, highlighting its commitment to strengthening UAE-India economic ties. ​

Market Dynamics

Haldiram’s has been a focal point for foreign investors, reflecting the growing appeal of India’s consumer market. The company’s flagship product, “bhujia”—a crispy fried snack made with flour, herbs, and spices—has been instrumental in establishing its market dominance. This surge in investment interest underscores the potential of Indian snack brands on the global stage. ​

The strategic investments from Alpha Wave Global and IHC mark a significant milestone in Haldiram’s journey towards global expansion. With a robust product portfolio and the backing of prominent international investors, Haldiram’s is poised to make a substantial impact in new markets, further solidifying its position as a leader in the global snack industry.​