NEW DELHI: Investment firm Blackstone has revised its investment strategy concerning the popular Indian snacks manufacturer, Haldiram’s. Initially interested in acquiring a majority stake, Blackstone has shifted its focus and is currently negotiating to purchase a 20% stake in Haldiram’s snacks division. However, discussions have hit a snag over the valuation, which stands at a hefty $8 billion, according to insiders familiar with the matter.

Haldiram’s is a major player in the Indian snack food industry, commanding a significant market share. According to data from market research firm Euromonitor International, Haldiram’s holds nearly 13% of India’s $6.2-billion savoury snacks market. This segment is highly competitive and is characterized by a diverse range of products catering to the varied tastes of the Indian populace.

The ongoing negotiations between Blackstone and Haldiram’s reflect the growing interest of global investment companies in Indian consumer brands, especially those with a deep-rooted presence and a broad consumer base like Haldiram’s. The outcome of these talks could potentially reshape the financial and operational landscape of Haldiram’s, enhancing its competitive edge in the market.