Abu Dhabi-based International Holding Company (IHC) is set to acquire a stake in Haldiram Snacks, a leading Indian snack food manufacturer valued at $10 billion. This investment comes alongside New York-based Alpha Wave Global, marking a significant moment for Haldiram as it aims for international growth.

The announcement follows Singapore’s Temasek, which recently acquired a 10 percent stake in Haldiram for approximately $1 billion (Rs85 billion). While the financial specifics regarding the stake acquisition by IHC and Alpha Wave Global remain undisclosed, reports indicate that their combined investment could be around $70 million for a six percent equity stake in the company, known for its popularity in North India.

A company spokesperson indicated that the partnership with IHC and Alpha Wave Global represents a commitment to long-term support for Haldiram’s growth initiatives. With this backing, Haldiram plans to utilize the investors’ extensive expertise and networks to expand into international markets, particularly in the Middle East and the United States, where there is a rising demand for Indian snacks and cuisine.

Founded in Bikaner, Rajasthan, in 1937, Haldiram boasts a diverse product lineup of over 400 items, including traditional namkeens, Indian sweets, cookies, and pickles. The company is optimistic that this partnership will enhance its product offerings and operational capabilities, further solidifying its presence in global markets.