Haldiram scouts deals to enter southern mkt

MUMBAI: Temasek-backed Haldiram Snacks Food Pvt. Ltd is scouting for acquisitions to expand its pan-India presence, particularly in the South, two people aware the matter said.

- Priyamvada C & Sneha Shah

“Temasek and the company’s top management have sounded out bankers to identify assets that are profitable with strong fundamentals for a bolt-on strategy,” one of the people cited above said. Such deals allow larger firms to buy smaller businesses to expand operations, diversify offerings, or reach new markets.

Haldiram has the capability to acquire assets in the range of $50-200 million, the second person said, adding the company is and “well-capitalized” and the business is cash flow positive.

Haldiram faces competition from Bikanervala, Bikaji, Balaji Wafers, Gits Food Products, and Prabhuji.