Brief by Shorts91 Newsdesk / 06:02pm on 06 Sep 2023,Wednesday Business
Tata Group's consumer unit is in acquisition talks with popular Indian snack maker Haldiram's to buy at least 51% stake but faces resistance over the $10 billion valuation sought. If successful, the deal would see Tata directly compete with Pepsi and Reliance Retail. However, Tata feels Haldiram's valuation demand is very high. Family-run Haldiram's, renowned for its affordable snacks, has around 13% share of India's $6.2 billion savoury snack market and a significant overseas presence. Besides Tata, Haldiram's is also in talks with private equity firms including Bain Capital for a 10% stake sale. The potential deal with Tata represents an exciting consumer space opportunity, but the high valuation sought by Haldiram's poses a roadblock.
