That moment of defiance defined the trajectory of what is now one of India’s most formidable consumer brands.
Today, Haldiram is not just a snack maker; it is a $10 billion enterprise that rivals multinational giants.
In a comprehensive feature by The Captable, Arvind Singhal, Chairman & Managing Director of The Knowledge Company, provides expert commentary on the company’s journey and its latest strategic milestone: a partnership with Singapore’s state-backed investment firm, Temasek.
Haldiram’s dominance is staggering. In the 2022–23 fiscal year, it held an estimated 40% share of India’s ₹17,900 crore organized traditional snacks market.
Unlike many competitors who relied on heavy advertising, Haldiram focused on product innovation, packaging, and a deep understanding of the Indian palate.
In the article, Arvind Singhal explains the unique strength of the brand:
“The variety and range of their products are so vast that almost every Indian seems to like something from their portfolio. Their continuous innovation, deep understanding of Indian consumers and strong traction even outside India make them a truly unique company.” — Arvind Singhal, Chairman & MD, The Knowledge Company
The recent acquisition of a stake by Temasek marks a pivotal shift.
This transaction, one of the largest private-equity deals in India’s consumer sector, signals that Haldiram is ready to move beyond being a family-run success story to becoming a professionally managed global contender.
Arvind Singhal notes that this partnership brings more than just capital; it brings strategic access.
“The investor may be able to open some doors for Haldiram, which it may not be able to do on its own, whether through distribution, manufacturing technology or product development capabilities from other companies in its portfolio.”
While Haldiram is already present in over 100 countries, its success has largely been driven by the Indian diaspora seeking a “taste of home.”
The real test for the new entity, backed by Temasek, Alpha Wave Global, and IHC, will be to cross over into the mainstream global snack market.
With stronger governance, professional management, and global networks, Haldiram is poised to experiment and adapt its products for local tastes in the US, Southeast Asia, and West Asia.
The journey from a Bikaner sweet shop to a $10 billion valuation is a testament to the power of resilience and consumer-centricity.
As Haldiram integrates its Delhi and Nagpur operations and prepares for its next phase of growth, it stands as a prime example of how Indian heritage brands can write their own global destiny.
Read the full deep-dive in The Captable at: https://www.outlookbusiness.com/magazine/from-a-family-snack-business-to-global-ambition-haldiram-is-writing-its-own-destiny
Arvind Singhal’s contribution to this discussion exemplifies TKC’s role as a trusted advisor to family-managed businesses and large consumer conglomerates.
Whether it’s scaling family businesses, global market entry, or strategic M&A advisory, our insights are built on decades of experience and deep industry knowledge.
We work closely with clients to evaluate emerging categories through a multi-lens approach, consumer behaviour, infrastructure, margin potential, and operational scalability.
As the retail ecosystem evolves rapidly, our role is to balance ambition with execution reality.
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