**L Catterton Partners with Haldiram Snacks to Boost Growth**
**Meta Description:** L Catterton invests in Haldiram Snacks to enhance growth in India and expand internationally, tapping into the booming packaged snacks market.
**URL Slug:** l-catterton-haldiram-snacks-investment
**Bengaluru**: Global investment firm L Catterton has made a strategic investment in Haldiram Snacks Food Pvt. Ltd, which is backed by Temasek, marking a significant move as private equity interest in India’s snacks and packaged foods sector continues to grow. The financial details of the investment remain undisclosed.
Founded in 1937, Haldiram’s operates in various packaged food categories, including savory snacks, sweets, and ready-to-eat products. The company utilizes a diverse sales strategy that encompasses general trade, modern retail, quick-service restaurants, and export channels. Over the years, Haldiram’s has established a robust distribution network in India and key international markets, particularly where there is a significant Indian diaspora.
Under this new partnership, Haldiram’s aims to enhance product development, improve supply chain efficiency, expand distribution, and build organizational capabilities. Sanjiv Mehta, the former chairman and managing director of Hindustan Unilever, serves as the executive chairman for India at L Catterton and is expected to play a pivotal role in the collaboration with Haldiram’s.
Mehta expressed enthusiasm about the partnership, stating, “Haldiram’s is an iconic Indian brand that resonates across the country as the undisputed leader in the ethnic snacks category and has significant potential to become a global brand in the packaged snacks space. We are delighted to back Haldiram’s and drive further growth in India’s evolving and flourishing consumer market, as well as galvanize its internationalization.”
This investment comes at a time when India’s packaged snacks market is experiencing steady growth. According to market research from IMARC Group, the domestic snacks market was valued at ₹42,694.9 crore in 2023 and is projected to more than double to ₹95,521.8 crore by 2032. This growth is fueled by urban consumption, an increasing preference for packaged foods, and a gradual shift away from unbranded products. The market encompasses both traditional namkeen and western-style snacks, with competition intensifying across various price points.
In recent years, the sector has garnered significant interest from both public markets and private equity firms. For instance, Bikaji Foods, another player in the ethnic snacks segment, went public in 2022, while numerous private equity firms have invested in emerging and mid-sized packaged food brands. L Catterton has previously supported Indian food and snack companies, including Farmley, as part of its broader focus on consumer businesses.
Globally, L Catterton manages capital across private equity, credit, and real estate, with investments spanning food, beverages, and consumer brands.
**FAQ**
**What is the significance of L Catterton’s investment in Haldiram Snacks?**
L Catterton’s investment is significant as it aims to enhance Haldiram’s growth in India and facilitate its expansion into international markets, leveraging L Catterton’s expertise in consumer businesses.
