Haldirams, one of India’s largest snack brands, has secured a significant investment from Abu Dhabi’s International Holding Company (IHC). Alongside IHC, Alpha Wave Global has also acquired equity in Haldirams, marking a strategic move that aims to bolster the company’s financial standing and provide the necessary funds for further expansion, particularly in the United States and the Middle East.

The brand boasts a strong presence in UAE supermarkets and has built a substantial following among the Indian community residing in the country. Haldirams, which also offers ready-to-eat meals, has been described as enjoying “immense popularity among consumers worldwide,” according to a company statement.

The recent investment reflects a growing trend as Temasek, Singapore’s wealth fund, previously made a stake purchase in Haldirams, valuing the company at $10 billion. A statement emphasized that the investment illustrates both Alpha Wave Global’s and IHC’s commitment to supporting leading companies that possess strong consumer brands. IHC’s acquisition of a stake in Haldirams aligns with its strategy to expand interests in the agriculture and food and beverage sectors, following last year’s acquisition of the Latin American food company Grupo Nutresa.

In a statement regarding the partnership, Haldirams expressed enthusiasm about the collaboration, which is anticipated to provide long-term support for their growth plans. The spokesperson noted that this partnership positions Haldirams to enhance its product offerings and operations, aiming to make the brand a household name in the Middle East and beyond.

Founded in 1937, Haldirams has emerged as a leading manufacturer of packaged food, adept at tapping into markets with significant Indian diaspora populations. The company’s marketing efforts have focused on delivering a taste of India to consumers worldwide. Navroz Udwadia, co-founder of Alpha Wave, expressed excitement about collaborating with Haldirams, highlighting the brand’s rich legacy and strong customer loyalty as key factors in their investment.