Tata Denies $10 Billion Deal with Haldiram’s : What’s Really Happening

Tata Denies $10 Billion Deal with Haldiram’s :

Tata Denies $10 Billion Deal with Haldiram's : What's Really Happening

Tata Consumer Products Ltd, a part of the Tata Group, has officially denied recent reports from Reuters claiming that they are in discussions to acquire a controlling 51% stake in the popular Indian snack food maker, Haldiram’s. The reports suggested that Tata Consumer Products was uncomfortable with Haldiram’s valuation of $10 billion.

Regulatory Filing Clarification (Tata Denies $10 Billion Deal with Haldiram’s )

In a regulatory filing, Tata Consumer Products addressed the news article titled “India’s Tata seeks control of Haldiram’s, snack maker wants $10 billion valuation” published on September 6, 2023, on www.reuters.com. They clarified the following points:

  • Negotiations and Events: Were negotiations or events of this nature taking place? Tata Consumer Products stated that they were not engaged in any negotiations as reported in the news article.
  • Undisclosed Information: Furthermore, the company confirmed that they were not aware of any undisclosed information that would explain any recent trading activity.
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Tata’s Interest and Concerns ( Tata Denies $10 Billion Deal with Haldiram’s )

Earlier reports from Reuters had suggested that Tata was interested in acquiring more than 51% of Haldiram’s but had expressed concerns about the high valuation. This acquisition opportunity was seen as significant for Tata, especially since they are traditionally known as a tea company, while Haldiram’s holds a substantial market share in the consumer snack industry.

These details were provided by sources who wished to remain anonymous. Tata Consumer Products refrained from commenting on market speculation, and Haldiram’s CEO Krishan Kumar Chutani and Bain declined to comment as well.

Haldiram’s Legacy and Market Presence

Haldiram’s, a family-run business with roots dating back to 1937, is famous for its affordable and crispy “bhujia” snack, available for as little as 10 rupees in local stores. The company commands a substantial 13% share of India’s $6.2 billion savory snack market, according to Euromonitor International, putting it on par with Pepsi, known for its Lay’s chips.

International Reach and Diverse Operations

Haldiram’s products are also distributed in international markets like Singapore and the United States, and the company operates approximately 150 restaurants offering a diverse range of local and Western cuisine.

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Tata-Haldiram Deal: टाटा कंज्यूमर प्रोडक्ट्स खरीद सकती है हल्दीराम में हिस्सेदारी, जानें कहां तक पहुंची बात

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