Foodservice

Tata Consumer Products courts India snack maker

Image provided by Tata Consumer Products Ltd.

September 6, 2023

Tata Consumer Products Ltd., a Mumbai-based multinational corporation, is negotiating the acquisition of at least 51% of Haldiram, an India-based snack manufacturer, but is wary of the $10 billion valuation being sought, according to a Reuters report citing unnamed individuals who claim to have been briefed on the discussion.

The acquisition would put Tata in direct competition with Pepsi and Reliance Retail in India.

Haldiram is also with speaking with Bain Capital and other private equity firms about selling a 10% stake in the company, according to the unnamed sources.

Tata Consumer Products, which owns U.K.-based Tetley and partners with Starbucks in India, merged its coffee business with its main business last year as part of a reorganization.