3 min readMumbaiDec 19, 2025 09:55 PM IST
First published on: Dec 19, 2025 at 09:54 PM IST
American private equity (PE) firm L Catterton on Thursday announced it has picked up a stake in traditional packaged food brand and restaurant chain operator Haldiram’s. While both parties did not disclose any details of the deal, reports indicated the American firm bought a minority stake in the brand born in Bikaner in 1937.
“The collaboration aims to fortify Haldiram’s market leadership in the country and accelerate its international expansion on the back of its robust fundamentals, brand equity, and growth potential,” L Catterton said. “With the partnership, Haldiram’s will be able to tap into L Catterton’s global consumer sector expertise, operating prowess, and industry network, as well as local talent, insights, and relationships. This positions Haldiram’s to benefit from L Catterton’s vast capabilities,” it added.
The announcement comes after the likes of Singapore-based Temasek, Alpha Wave Global, and UAE-based International Holding Company had already reportedly bought a 15 per cent stake in the consumer major earlier this year. Temasek had picked up a 9 per cent stake in the Indian brand for around Rs 8,000 crore, earmarking a valuation of Rs 89,000 crore ($10 billion), Moneycontrol reported.
The investment will help to create a global perception for the Indian brand and would involve “unlocking further value via a comprehensive range of initiatives in areas such as brand building, new product development, supply chain and distribution optimisation, geographic expansion, as well as talent development,” according to the PE firm.
The Indian operations of L Catterton are headed by Sanjiv Mehta, the former chairman and CEO of Hindustan Unilever. “Haldiram’s is an iconic Indian brand that resonates across the country as the undisputed leader in the ethnic snacks category and has significant potential to become a global brand in the packaged snacks space. We are delighted to back Haldiram’s and drive further growth in India’s evolving and flourishing consumer market, as well as galvanise its internationalisation,” Mehta said, post the stake announcement.
The consumer-focused investment firm was created in 2016 after a merger between Catterton Partners and French luxury giant LVMH-owner Bernard Arnault’s family office, and manages around $39 billion of equity capital across the private equity, credit, and real estate sectors. It has invested in the likes of Cholula Hot Sauce, Farmley, Ferrara Candy Company, Goodles, Kettle Foods among others in this space.
Haldiram’s currently has its products available across over 7 million outlets. Originally started as a snacks and confectionery shop, it later expanded into the packaged foods segment and also operates a host of restaurants across the country.
Haldiram’s currently has its products available across over 7 million outlets. (Credit: haldirams.com) 
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