 "Haldiram, Haldiram snacks")
The Competition Commission of India (CCI) has approved the demerger of the Fast Moving Consumer Goods (FMCG) business of Haldiram Snacks and Haldiram Foods into Haldiram Snacks Food.
According to a report by the Press Information Bureau, the existing shareholders of Haldiram Snacks and Haldiram Foods have acquired a 56 per cent and a 44 per cent stake, respectively, in Haldiram Snacks Food.
In November 2022, CNBCTV18 reported that HFIPL and HSPL decided to merge their operations to create a snacking behemoth.
Haldiram Snacks Private Limited (HSPL/Haldiram Snacks) is engaged in the manufacture and distribution of packaged food products in India such as snacks, namkeen, sweets, ready-to-eat / pre-mix food, frozen food, biscuits, non-carbonated ready-to-drink beverages, pasta, etc. Headquartered in Delhi, HSPL’s operations are primarily run by Mr. Manohar Agarwal and Mr. Madhu Sudan Agarwal (Delhi Family).
Meanwhile, Haldiram Foods International Private Limited (HFIPL/ Haldiram Foods) is also engaged in similar operations as that of HSPL. Headquartered in Nagpur, HFIPL’s operations are primarily run by Mr. Kamalkumar Shivkisan Agrawal (Nagpur Family).
Haldiram Snacks Food Private Limited (HSFPL/ Haldiram Snacks Food) is a newly incorporated entity that currently does not have any business operations. The report also mentions that post the proposed transaction, HSFPL, the new entity will undertake the FMCG Business that is currently managed by HFIPL and HSPL, respectively.
The FMCG business will collectively comprise the FMCG business currently undertaken by HSPL and HFIPL and their respective subsidiaries/affiliates.
